Notes to SEFA
Title: CLEAN WATER STATE REVOLVING LOAN FUND- DEP
Accounting Policies: The information presented in the Schedule of Expenditures of Federal Awards is presented on a basis consistent with the District’s general-purpose financial statements. The grants included are all accounted for on a modified accrual basis of accounting which is described in the notes to the general-purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: DID NOT ELECT TO USE.
The District had $1,493,176 outstanding on a $2,500,000 interim bond payable which is funded by federal awards at December 31, 2024. Of this total, $1,006,824 is bond proceeds held by the Maine Municipal Bond Bank to be drawn down as the funds are expended.