Notes to SEFA
Title: Note 1: Basis of Presentation:
Accounting Policies: 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, wherein certain types of expenditures are
not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Tripp County Water User District has not elected to use the 10% de minimus indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of
Tripp County Water User District 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 Tripp County
Water User District., it is not intended to and does not present the financial position, changes in net position, or cash
flows Tripp County Water User District.
Title: Note 2: Summary of Significant Accounting Policies:
Accounting Policies: 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, wherein certain types of expenditures are
not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Tripp County Water User District has not elected to use the 10% de minimus indirect cost rate.
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, wherein certain types of expenditures are
not allowable or limited as to reimbursement.
Title: Note 3: Federal Reimbursement:
Accounting Policies: 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, wherein certain types of expenditures are
not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Tripp County Water User District has not elected to use the 10% de minimus indirect cost rate.
Tripp County Water User District has not elected to use the 10% de minimus indirect cost rate.