Notes to SEFA
Title: Capitalized Grant
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes federal grant activity of Arnold Irrigation District under programs of the federal government for the year ended December 31, 2023. The information in this schedule is presented 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 presents only a selected portion of the operations of Arnold Irrigation District, it is not intended to and does not present the financial position, changes in net assets or cash flows of Arnold Irrigation District. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis indirect cost rate.
During the year ended December 31, 2023 the District capitalized $4,753,646 of federal expenditures as canal system improvements.