Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Board has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
federal grant activity of the Athens Utilities Board (the Board) and is presented on the modified accrual
basis of accounting. Therefore, some amounts presented in this schedule may differ from amounts
presented in, or used in the preparation of, the basic financial statements.
Title: Subrecipents
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Board has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
Of the federal expenditures presented in the Schedule, the Board has not provided any federal awards to
subrecipients.
Title: Summary of significant accounting polcies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Board has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting.
Title: Indirect cost rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Board has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
The Board has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.