Title: Basis of Presentation
Accounting Policies: Note 1. Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards summarizes the expenditures of the District under programs of the federal government for the year ended June 30, 2024. The information in this schedule is presented in accordance with the requirements of Title 2, US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Because the schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District. 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 expenditures are not allowable or are limited as to reimbursement. Note 2. Loans Outstanding An agreement under CFDA Number 10.766 was executed during fiscal year 2024. The District received bond proceeds of $2,150,028 in 2024 from the USDA, which is 100% federally funded. At June 30, 2024, there is an outstanding balance of $2,139,235 on the Series 2024 bonds. Principal payments totaled $10,793 on the Series 2024 bonds during the fiscal year. Note 3. Indirect Cost Rate The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Any indirect rates charged to grants were contractually negotiated
The accompanying Schedule of Expenditures of Federal Awards summarizes the expenditures of the District under programs of the federal government for the year ended June 30, 2024. The information in this schedule is presented in accordance with the requirements of Title 2, US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Because the schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District. 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 expenditures are not allowable or are limited as to reimbursement.
Title: Loans Outstanding
Accounting Policies: Note 1. Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards summarizes the expenditures of the District under programs of the federal government for the year ended June 30, 2024. The information in this schedule is presented in accordance with the requirements of Title 2, US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Because the schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District. 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 expenditures are not allowable or are limited as to reimbursement. Note 2. Loans Outstanding An agreement under CFDA Number 10.766 was executed during fiscal year 2024. The District received bond proceeds of $2,150,028 in 2024 from the USDA, which is 100% federally funded. At June 30, 2024, there is an outstanding balance of $2,139,235 on the Series 2024 bonds. Principal payments totaled $10,793 on the Series 2024 bonds during the fiscal year. Note 3. Indirect Cost Rate The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Any indirect rates charged to grants were contractually negotiated
An agreement under CFDA Number 10.766 was executed during fiscal year 2024. The District received bond proceeds of $2,150,028 in 2024 from the USDA, which is 100% federally funded. At June 30, 2024, there is an outstanding balance of $2,139,235 on the Series 2024 bonds. Principal payments totaled $10,793 on the Series 2024 bonds during the fiscal year.
Title: Indirect Cost Rate
Accounting Policies: Note 1. Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards summarizes the expenditures of the District under programs of the federal government for the year ended June 30, 2024. The information in this schedule is presented in accordance with the requirements of Title 2, US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Because the schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District. 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 expenditures are not allowable or are limited as to reimbursement. Note 2. Loans Outstanding An agreement under CFDA Number 10.766 was executed during fiscal year 2024. The District received bond proceeds of $2,150,028 in 2024 from the USDA, which is 100% federally funded. At June 30, 2024, there is an outstanding balance of $2,139,235 on the Series 2024 bonds. Principal payments totaled $10,793 on the Series 2024 bonds during the fiscal year. Note 3. Indirect Cost Rate The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Any indirect rates charged to grants were contractually negotiated
The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.