Notes to SEFA
Title: General
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Board's basic financial statemetns for the year ended December 31, 2024. Such expenditures are recognized following the cost principles contained in the Uniform Gudiance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Board has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Pointe Coupee Parish Sewerage Board 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 the Pointe Coupee
Parish Sewerage Board, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Pointe Coupee Parish Sewerage Board.
Title: Basis of accounting
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Board's basic financial statemetns for the year ended December 31, 2024. Such expenditures are recognized following the cost principles contained in the Uniform Gudiance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Board has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Board’s basic financial statements for the year ended December 31, 2024. 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.
Title: Loan Balance Disclosure
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Board's basic financial statemetns for the year ended December 31, 2024. Such expenditures are recognized following the cost principles contained in the Uniform Gudiance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Board has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amount reported for the Clean Water State Revolving Fund, ALN 66.458, includes a beginning loan balance of $207,128, reflecting a net increase of $2,169 in loan principal during the audit period. The total outstanding loan balance at year-end was $209,297. This amount is reported in accordance with 2 CFR §200.502(d) due to continuing compliance requirements.
Title: Indirect Cost Rate
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Board's basic financial statemetns for the year ended December 31, 2024. Such expenditures are recognized following the cost principles contained in the Uniform Gudiance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Board has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Board has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.