Notes to SEFA
Title: Note A
Accounting Policies: The accompanying schedule of expeditures of federal awards (the Schedule) includes the federal award activity of the Water Works and Sewer Board of the City of Lineville under programs of the federal government for the year ended September 30, 2024.
De Minimis Rate Used: Y
Rate Explanation: The Water Works and Sewer Board of the City of Lineville has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Water Works and Sewer Board of the City of Lineville under programs of the federal government for the year ended September 30, 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 the Water Works and Sewer Board of the City of Lineville it is not intended to and does not present the financial position, changes in net assets, or cash flows of Water Works and Sewer Board of the City of Lineville.
Title: Note B
Accounting Policies: The accompanying schedule of expeditures of federal awards (the Schedule) includes the federal award activity of the Water Works and Sewer Board of the City of Lineville under programs of the federal government for the year ended September 30, 2024.
De Minimis Rate Used: Y
Rate Explanation: The Water Works and Sewer Board of the City of Lineville has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Note C
Accounting Policies: The accompanying schedule of expeditures of federal awards (the Schedule) includes the federal award activity of the Water Works and Sewer Board of the City of Lineville under programs of the federal government for the year ended September 30, 2024.
De Minimis Rate Used: Y
Rate Explanation: The Water Works and Sewer Board of the City of Lineville has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Water Works and Sewer Board of the City of Lineville has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.