Notes to SEFA
Title: 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 princples contained in the Uniform Guidance and OMB Circular-87, Cost Principles for State, Local, and Indian Tribe Governments, wherein certain types of expendiures are no allowable or ar limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Chestnute Ridge Public Service District has elected not to use the 10% de minimus indirect cos rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards includes the federal award activity of Chestnut Ridge Public Service District under programs of the federal government for the year ended June 30, 2024 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 the schedule represents only the selected portion of the operations of the Chestnut Ridge Public Service District, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Chestnut Ridge Public Service District.
Title: Loan Outstanding
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost princples contained in the Uniform Guidance and OMB Circular-87, Cost Principles for State, Local, and Indian Tribe Governments, wherein certain types of expendiures are no allowable or ar limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Chestnute Ridge Public Service District has elected not to use the 10% de minimus indirect cos rate allowed under the Uniform Guidance.
The District has the following loan balances outstanding at June 30, 2024. Loans outstanding at the beginning of the year and loans made during the year are included as federal expenditures presented in the this schedule. Capital Grants for Drinking Water State Revolving Fund - AL 66.468 Outstanind Amount $1,851,575.
Title: Pass-Through to Subrecipients
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost princples contained in the Uniform Guidance and OMB Circular-87, Cost Principles for State, Local, and Indian Tribe Governments, wherein certain types of expendiures are no allowable or ar limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Chestnute Ridge Public Service District has elected not to use the 10% de minimus indirect cos rate allowed under the Uniform Guidance.
There were no awards passed through to subrecipients.
Title: Assistance Listing (Catalog of Federal Domestic Assistance (CFDA)
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost princples contained in the Uniform Guidance and OMB Circular-87, Cost Principles for State, Local, and Indian Tribe Governments, wherein certain types of expendiures are no allowable or ar limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Chestnute Ridge Public Service District has elected not to use the 10% de minimus indirect cos rate allowed under the Uniform Guidance.
Assistance Listing (AL) has replaced the Catalog of Federal Domestic Assistance (CFDA) for identifying federal programs.