Title: Basis of Presentation
Accounting Policies: The Accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs the West Ouachita Sewerage District No. 5 (the District), a component unit of the Ouachita Parish Police Jury, for the year ended August 31, 2024. The District’s reporting entity is defined in Note 1 to the District’s financial statements. Because the schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the net position, changes in net position, or cash flows of the District.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis federal indirect cost rate for the year ended August 31, 2024.
The Accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs the West Ouachita Sewerage District No. 5 (the District), a component unit of the Ouachita Parish Police Jury, for the year ended August 31, 2024. The District’s reporting entity is defined in Note 1 to the District’s financial statements. Because the schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the net position, changes in net position, or cash flows of the District.
Title: Basis of Presentation (continued)
Accounting Policies: The Accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs the West Ouachita Sewerage District No. 5 (the District), a component unit of the Ouachita Parish Police Jury, for the year ended August 31, 2024. The District’s reporting entity is defined in Note 1 to the District’s financial statements. Because the schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the net position, changes in net position, or cash flows of the District.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis federal indirect cost rate for the year ended August 31, 2024.
The information is presented in accordance with the requirement of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Title: Basis of Accounting
Accounting Policies: The Accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs the West Ouachita Sewerage District No. 5 (the District), a component unit of the Ouachita Parish Police Jury, for the year ended August 31, 2024. The District’s reporting entity is defined in Note 1 to the District’s financial statements. Because the schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the net position, changes in net position, or cash flows of the District.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis federal indirect cost rate for the year ended August 31, 2024.
Expenditures are reported on the accrual basis of accounting. The accrual basis of accounting recognizes revenues when they are earned and expenses when they are incurred. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to their reimbursement.
Title: Federal Indirect Cost Rate
Accounting Policies: The Accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs the West Ouachita Sewerage District No. 5 (the District), a component unit of the Ouachita Parish Police Jury, for the year ended August 31, 2024. The District’s reporting entity is defined in Note 1 to the District’s financial statements. Because the schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the net position, changes in net position, or cash flows of the District.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis federal indirect cost rate for the year ended August 31, 2024.
The District did not elect to use the 10% de minimis federal indirect cost rate for the year ended August 31, 2024.