Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of South Central Water Association, Inc. under programs of the federal government for the year ended August 31, 2024. 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 South Central Water Association, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of South Central Water Association, Inc..
De Minimis Rate Used: N
Rate Explanation: South Central Water Association, Inc. has opted not to use the de minimis indirect cost rate of 10%, as provided for under Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, Final Guidance, for one grant and defaulted to the indirect cost rate provided by other departments for other grants.