Notes to SEFA
Title: NOTE A - BASIS OF PRESENTATION
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN THE UNIFORM GUIDANCE, WHEREIN CERTAIN TYPES OF EXPENDTITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: N
Rate Explanation: THE CITY OF MOUNTAIN HOME, IDAHO HAS ELECTED NOT TO USE THE 10 PERCENT DE MINIMIS INDRIECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.
THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS INCLUDES THE FEDERAL GRANT ACTIVITY OF CITY OF MOUNTAIN HOME, IDAHO AND IS PRESENTED ON THE ACCRRUAL BASIS OF ACCOUNTING. THE INFORMATION IN THIS SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS (UNIFORM GUIDANCE). BECAUSE THIS SCHEDULE PRESENTS ONLY A SELECTED PORTION OF THE OPERATIONS OF THE CITY OF MOUNTAIN HOME, IDAHO, IT IS NOT INTENDED TO AND DOES NOT PRESENT THE FINANCIAL POSITION, CHANGES IN NEET POSITION, OR CASH FLOWS TO THE CITY OF MOUNTAIN HOME, IDAHO.
Title: NOTE D - LOAN BALANCES
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN THE UNIFORM GUIDANCE, WHEREIN CERTAIN TYPES OF EXPENDTITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: N
Rate Explanation: THE CITY OF MOUNTAIN HOME, IDAHO HAS ELECTED NOT TO USE THE 10 PERCENT DE MINIMIS INDRIECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.
LOANS OUTSTANDING AT THE BEGINNING OF THE YEAR AND LOANS MADE DURING THE YEAR ARE INCLUDED IN THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS. THE CITY HAD THE FOLLOWING LOAN BALANCES OUSTANDING AT SEPTEMBER 30, 2024. THE LOAN BALANCES HAVE CONTINUING COMPLIANCE REQUIREMENTS AND ARE ALSO INCLDUED IN THE FEDERAL EXPENDITURES PRESENTED IN THE SCHEDULE. DWSRF CLUSTER: DRINKING WATER STATE REVOLVING FUND BALANCE OF $5,092,734.