Notes to SEFA
Title: 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 are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Town of Lochbuie has elected not to use the 10% de minimus 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 Town of Lochbuie 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 Award s (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Town of Lochbuie, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Town of Lochbuie.
Title: 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 are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Town of Lochbuie has elected not to use the 10% de minimus indirect cost rate 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect Cost Rate
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 are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Town of Lochbuie has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Town of Lochbuie has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Title: Loan Outstanding
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 are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Town of Lochbuie has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
The Town of Lochbuie participates in the Drinking Water State Revolving Fund (DWSRF) program under Assistance Listing Number 66.468. As of December 31, 2024, the outstanding loan balance related to this program was $6,659,802. The loan program is administered by the Colorado Water Resources and Power Development Authority (CWRPDA) and remains active as of year-end.