Audit 357921

Title: NOTE 1. BASIS OF PRESENTATION Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the Commissioners of Public Works of the City of Greenville (“Greenville Water”) and is presented on the accrual basis of accounting. The Greenville Water reporting entity is described in Note 1 to Greenville Water’s basic financial statements. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: Greenville Water chose not to use the ten percent de Minimis indirect cost rate for the year ended December 31, 2024. The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the Commissioners of Public Works of the City of Greenville (“Greenville Water”) and is presented on the accrual basis of accounting. The Greenville Water reporting entity is described in Note 1 to Greenville Water’s basic financial statements. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.

Title: NOTE 2. DE MINIMIS INDIRECT COST RATE Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the Commissioners of Public Works of the City of Greenville (“Greenville Water”) and is presented on the accrual basis of accounting. The Greenville Water reporting entity is described in Note 1 to Greenville Water’s basic financial statements. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: Greenville Water chose not to use the ten percent de Minimis indirect cost rate for the year ended December 31, 2024. Greenville Water chose not to use the ten percent de Minimis indirect cost rate for the year ended December 31, 2024.

Title: NOTE 3. NON-CASH AWARDS AND LOANS Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the Commissioners of Public Works of the City of Greenville (“Greenville Water”) and is presented on the accrual basis of accounting. The Greenville Water reporting entity is described in Note 1 to Greenville Water’s basic financial statements. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: Greenville Water chose not to use the ten percent de Minimis indirect cost rate for the year ended December 31, 2024. There were no federal awards expended in the form of noncash assistance during the fiscal year. There were also no loans or loan guarantees outstanding at year end.