Audit 357787

Title: NOTE 1 - BASIS OF PRESENTATION Accounting Policies: Expenditures reported on the Schedule are reported on the full accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. Southern Clinton County Municipal Utilities Authority has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or before September 30, 2024, and has also elected not to use the 15-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or after October 1, 2024. De Minimis Rate Used: N Rate Explanation: Southern Clinton County Municipal Utilities Authority has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or before September 30, 2024, and has also elected not to use the 15-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or after October 1, 2024. The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Southern Clinton County Municipal Utilities Authority under programs of the federal government for the year ended December 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 Southern Clinton County Municipal Utilities Authority, it is not intended to and does not present the financial position or changes in net position of Southern Clinton County Municipal Utilities Authority.

Title: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: Expenditures reported on the Schedule are reported on the full accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. Southern Clinton County Municipal Utilities Authority has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or before September 30, 2024, and has also elected not to use the 15-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or after October 1, 2024. De Minimis Rate Used: N Rate Explanation: Southern Clinton County Municipal Utilities Authority has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or before September 30, 2024, and has also elected not to use the 15-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or after October 1, 2024. Expenditures reported on the Schedule are reported on the full accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. Southern Clinton County Municipal Utilities Authority has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or before September 30, 2024, and has also elected not to use the 15-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or after October 1, 2024.

Title: NOTE 3 - SUBRECEIPEINTS Accounting Policies: Expenditures reported on the Schedule are reported on the full accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. Southern Clinton County Municipal Utilities Authority has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or before September 30, 2024, and has also elected not to use the 15-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or after October 1, 2024. De Minimis Rate Used: N Rate Explanation: Southern Clinton County Municipal Utilities Authority has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or before September 30, 2024, and has also elected not to use the 15-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or after October 1, 2024. No federal awards were passed through by the Authority to any subrecipients during the year.