Audit 355682

Title: PURPOSE OF THE SCHEDULE Accounting Policies: A. Basis of Presentation – The information is presented in accordance with the Uniform Guidance and in accordance with accrual basis of accounting. Federal Awards – Pursuant to the Uniform Guidance, federal awards are defined as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts, cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance, or direct appropriations. Accordingly, non-monetary federal awards, including federal surplus property, is included in federal awards and, therefore, is reported on the Schedule. Federal awards do not include direct federal cash assistance to individuals. Type A and Type B Programs – The Uniform Guidance establishes the levels of expenditures or expenses to be used in defining Type A and Type B federal awards programs. The Type A program threshold during the year was $750,000. B. Reporting Entity – The reporting entity is fully described in the footnotes of Bear River Water Conservancy District’s financial statements. The schedule includes all federal awards programs administered by Bear River Water Conservancy District for the year ended December 31, 2024. C. Basis of Accounting – The expenditures in the Schedule are recognized as incurred based on the accrual basis of accounting and the cost accounting principles contained in the Uniform Guidance. The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. D. Assistance Listing Numbers – Uniform Guidance requires the Schedule to show the total expenditures for each of the entity’s federal financial assistance programs as identified as Assistance Listing Numbers, formerly (CFDA). Each program is assigned a five-digit program identification number (AL number). E. Major Programs – The Uniform Guidance establishes a risk-based approach to be used in defining major federal financial programs. Major programs are identified in the schedule of findings and questioned costs. F. Indirect Costs – The District does not use an indirect cost allocation. G. Loan Programs – The balance of federal loan programs as of December 31, 2024 was $0. De Minimis Rate Used: N Rate Explanation: The entity does not use an indirect cost allocation, but direct costs. The accompanying Schedule of Expenditures of Federal Awards (Schedule) is a supplementary schedule of Bear River Water Conservancy District’s general purpose financial statements and is presented for purposes of additional analysis. Because the schedule presents only a select portion of the activities of the Bear River Water Conservancy District, it is not intended to and does not present the financial position, changes in net position or the revenues or expenditures of Bear River Water Conservancy District. 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).