Title: NOTE 1 PURPOSE OF SCHEDULE
Accounting Policies: A. Basis of Presentation: Federal Financial Assistance - Pursuant to the Uniform Guidance, federal financial
assistance is defined as assistance that nonfederal entities receive or administer in the form of grants,
cooperative agreements, loans, loan guarantees, property (including donated surplus property), interest
subsidies, insurance, food commodities, direct appropriations and other assistance, but does not include
amounts received as reimbursements for services rendered to individuals. Accordingly, nonmonetary
federal assistance may be included in federal financial assistance and therefore, may be reported on the
schedule. South Central Regional Water District received no nonmonetary federal assistance during the
year ended December 31, 2024. Federal financial assistance does not include direct federal cash assistance
to individuals.
Assistance Listing – UniformGuidance requires the schedule to show the total expenditures for each of the
federal financial assistance programs as identified in the Assistance Listing (AL). The AL is a government
wide compendium of individual federal programs.
B. Major Programs: The UniformGuidance established the levels of expenditures to be used in definingmajor
federal financial assistance programs. The dollar threshold to distinguish type A and type B programs was
$750,000.
C. Reporting Entity: The schedule includes all federal financial assistance programs administered by the
organization.
D. Basis of Accounting: Federal financial assistance expenditures included in the schedule are reported using
the accrual basis of accounting.
E. Elections: The organization has not elected to use the 10 percent de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis indirect cost rate.
The Schedule of Expenditures of FederalAwards (schedule) is a supplementary schedule to the financial statements
and is presented for purposes of additional analysis. The schedule is required by Title 2 U.S. Code of Federal
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards (Uniform Guidance).
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: A. Basis of Presentation: Federal Financial Assistance - Pursuant to the Uniform Guidance, federal financial
assistance is defined as assistance that nonfederal entities receive or administer in the form of grants,
cooperative agreements, loans, loan guarantees, property (including donated surplus property), interest
subsidies, insurance, food commodities, direct appropriations and other assistance, but does not include
amounts received as reimbursements for services rendered to individuals. Accordingly, nonmonetary
federal assistance may be included in federal financial assistance and therefore, may be reported on the
schedule. South Central Regional Water District received no nonmonetary federal assistance during the
year ended December 31, 2024. Federal financial assistance does not include direct federal cash assistance
to individuals.
Assistance Listing – UniformGuidance requires the schedule to show the total expenditures for each of the
federal financial assistance programs as identified in the Assistance Listing (AL). The AL is a government
wide compendium of individual federal programs.
B. Major Programs: The UniformGuidance established the levels of expenditures to be used in definingmajor
federal financial assistance programs. The dollar threshold to distinguish type A and type B programs was
$750,000.
C. Reporting Entity: The schedule includes all federal financial assistance programs administered by the
organization.
D. Basis of Accounting: Federal financial assistance expenditures included in the schedule are reported using
the accrual basis of accounting.
E. Elections: The organization has not elected to use the 10 percent de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis indirect cost rate.
A. Basis of Presentation: Federal Financial Assistance - Pursuant to the Uniform Guidance, federal financial
assistance is defined as assistance that nonfederal entities receive or administer in the form of grants,
cooperative agreements, loans, loan guarantees, property (including donated surplus property), interest
subsidies, insurance, food commodities, direct appropriations and other assistance, but does not include
amounts received as reimbursements for services rendered to individuals. Accordingly, nonmonetary
federal assistance may be included in federal financial assistance and therefore, may be reported on the
schedule. South Central Regional Water District received no nonmonetary federal assistance during the
year ended December 31, 2024. Federal financial assistance does not include direct federal cash assistance
to individuals.
Assistance Listing – UniformGuidance requires the schedule to show the total expenditures for each of the
federal financial assistance programs as identified in the Assistance Listing (AL). The AL is a government
wide compendium of individual federal programs.
B. Major Programs: The UniformGuidance established the levels of expenditures to be used in definingmajor
federal financial assistance programs. The dollar threshold to distinguish type A and type B programs was
$750,000.
C. Reporting Entity: The schedule includes all federal financial assistance programs administered by the
organization.
D. Basis of Accounting: Federal financial assistance expenditures included in the schedule are reported using
the accrual basis of accounting.
E. Elections: The organization has not elected to use the 10 percent de minimis indirect cost rate.
Title: NOTE 3 RECONCILIATION OF SEFA SCHEDULE TO FINANCIAL STATEMENTS
Accounting Policies: A. Basis of Presentation: Federal Financial Assistance - Pursuant to the Uniform Guidance, federal financial
assistance is defined as assistance that nonfederal entities receive or administer in the form of grants,
cooperative agreements, loans, loan guarantees, property (including donated surplus property), interest
subsidies, insurance, food commodities, direct appropriations and other assistance, but does not include
amounts received as reimbursements for services rendered to individuals. Accordingly, nonmonetary
federal assistance may be included in federal financial assistance and therefore, may be reported on the
schedule. South Central Regional Water District received no nonmonetary federal assistance during the
year ended December 31, 2024. Federal financial assistance does not include direct federal cash assistance
to individuals.
Assistance Listing – UniformGuidance requires the schedule to show the total expenditures for each of the
federal financial assistance programs as identified in the Assistance Listing (AL). The AL is a government
wide compendium of individual federal programs.
B. Major Programs: The UniformGuidance established the levels of expenditures to be used in definingmajor
federal financial assistance programs. The dollar threshold to distinguish type A and type B programs was
$750,000.
C. Reporting Entity: The schedule includes all federal financial assistance programs administered by the
organization.
D. Basis of Accounting: Federal financial assistance expenditures included in the schedule are reported using
the accrual basis of accounting.
E. Elections: The organization has not elected to use the 10 percent de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis indirect cost rate.
Per statement of revenues, expenses, and changes in
fund net position:
Grant Revenue Federal $
121,852
Balance of SRF loan advanced 1,464,077
Total federal awards as stated on the SEFA schedule $ 1,585,929