Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on this schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-87, Cost Principles for State, Local, and Indian Tribe Governments, wherein certain types of expendiures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Norton-Harding-Jimtown Public Service District has elected no to use the 10% de minimus indirect cost rate allowed under the Uniform Gudiance.
The accompanying Schedule of Expenditures of Federal Awards includes the federal award activity of Norton-Harding-Jimtown 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 Norton-Harding-Jimtown Public Service District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Adrian Public Service District.
Title: Pass-Through to Subrecipients
Accounting Policies: Expenditures reported on this schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-87, Cost Principles for State, Local, and Indian Tribe Governments, wherein certain types of expendiures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Norton-Harding-Jimtown Public Service District has elected no to use the 10% de minimus indirect cost rate allowed under the Uniform Gudiance.
There were no awards passed through to subrecipients.
Title: Assistance Listing (Catalog of Federal Domestic Assistance (CFDA)
Accounting Policies: Expenditures reported on this schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-87, Cost Principles for State, Local, and Indian Tribe Governments, wherein certain types of expendiures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Norton-Harding-Jimtown Public Service District has elected no to use the 10% de minimus indirect cost rate allowed under the Uniform Gudiance.
Assistance Listing (AL) has replaced the Catalog of Federal Domestic (CFDA) for identying federal programs.
Title: Loan Programs With Compliance Requirements
Accounting Policies: Expenditures reported on this schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-87, Cost Principles for State, Local, and Indian Tribe Governments, wherein certain types of expendiures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Norton-Harding-Jimtown Public Service District has elected no to use the 10% de minimus indirect cost rate allowed under the Uniform Gudiance.
The federal loan program listed subsequently is administered directly by Norton-Harding-Jimtown Public Service District's basic financial statements. Loans outstanding made during the year are includedin the federal expenditures presented in this schedule. The balances of loans outstanding at June 30, 2024 consist of: AL #10.760 Water and Watse Disposal Systems for Rural Communities $ 663,985.