Notes to SEFA
Title: NOTE 1 BASIS OF ACCOUNTING
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Consolidated Public Water Supply District No. 1 of Clark County, Missouri’s financial statements and is presented in accordance with the Uniform Guidance (2CFR Part 200). The District’s basic financial statements are presented on the full accrual basis of accounting and conform to accounting principles generally accepted in the United States of America.
De Minimis Rate Used: N
Rate Explanation: No indirect costs were allocated to the project
This Schedule is prepared on the same basis of accounting as the Consolidated Public Water Supply District No. 1 of Clark County, Missouri’s financial statements and is presented in accordance with the Uniform Guidance (2CFR Part 200). The District’s basic financial statements are presented on the full accrual basis of accounting and conform to accounting principles generally accepted in the United States of America.
Title: NOTE 2 INDIRECT COST RATE
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Consolidated Public Water Supply District No. 1 of Clark County, Missouri’s financial statements and is presented in accordance with the Uniform Guidance (2CFR Part 200). The District’s basic financial statements are presented on the full accrual basis of accounting and conform to accounting principles generally accepted in the United States of America.
De Minimis Rate Used: N
Rate Explanation: No indirect costs were allocated to the project
The District has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance as no indirect costs were allocated to the project.
Title: NOTE 3 FEDERAL LOANS
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Consolidated Public Water Supply District No. 1 of Clark County, Missouri’s financial statements and is presented in accordance with the Uniform Guidance (2CFR Part 200). The District’s basic financial statements are presented on the full accrual basis of accounting and conform to accounting principles generally accepted in the United States of America.
De Minimis Rate Used: N
Rate Explanation: No indirect costs were allocated to the project
The District was approved by the USDA Rural Development to receive loans totaling $2,453,000 to build a 75,000 gallon elevated tank, install a water main, improvements to a booster pump station and install a generator. Interim loan financing was received for the construction period. The loan amount includes proceeds of $1,886,301 expended during the year. The balance owing at December 31, 2023, is $1,886,301.