Title: Basis of Presentation
Accounting Policies: The schedule of expenditures of federal awards and state financial assistance summarizes the expenditures of the District under programs of the federal and state governments for the year ended April 30, 2024. The information is this schedule is presented in accordance with the requirements of Title 2 US 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 the District, it is not intended to and does not present the financial position, change in net position, or cash flows of the District. Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Utility has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance
The schedule of expenditures of federal awards and state financial assistance summarizes the expenditures of the District under programs of the federal and state governments for the year ended April 30, 2024. The information is this schedule is presented in accordance with the requirements of Title 2 US 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 the District, it is not intended to and does not present the financial position, change in net position, or cash flows of the District. Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: The schedule of expenditures of federal awards and state financial assistance summarizes the expenditures of the District under programs of the federal and state governments for the year ended April 30, 2024. The information is this schedule is presented in accordance with the requirements of Title 2 US 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 the District, it is not intended to and does not present the financial position, change in net position, or cash flows of the District. Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Utility has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance
The Utility has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance
Title: Loans Outstanding
Accounting Policies: The schedule of expenditures of federal awards and state financial assistance summarizes the expenditures of the District under programs of the federal and state governments for the year ended April 30, 2024. The information is this schedule is presented in accordance with the requirements of Title 2 US 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 the District, it is not intended to and does not present the financial position, change in net position, or cash flows of the District. Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Utility has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance
At April 30, 2024, loan program outstanding balance were as follows: Waterworks Revenue Bonds Series 1995 $204,066
Waterworks Revenue Bonds Series 2020 616,317
Water and Waste Disposal System for Rural Communities Waterworks Revenue Bonds Series 2022 305,089
Total $1,125,472