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 may or may not be allowable or may be limited as to reimbursement. In addition, agency or pass-through numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Association has elected to not use the 10-percent de minimis indirect cost rate on new grants as allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Hawaiʻi Rural Water Association, Inc. (“Association”) under programs of the federal government for the year ended December 31, 2024. The information on this Schedule is prepared 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”). Therefore, certain amounts presented in this Schedule may differ from amounts presented in the preparation of the financial statements of the Association.
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 may or may not be allowable or may be limited as to reimbursement. In addition, agency or pass-through numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Association has elected to not use the 10-percent de minimis indirect cost rate on new grants 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, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. In addition, agency or pass-through numbers are presented where available.
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 may or may not be allowable or may be limited as to reimbursement. In addition, agency or pass-through numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Association has elected to not use the 10-percent de minimis indirect cost rate on new grants as allowed under the Uniform Guidance.
The Association has elected to not use the 10-percent de minimis indirect cost rate on new grants as allowed under the Uniform Guidance.
Title: Major Program
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 may or may not be allowable or may be limited as to reimbursement. In addition, agency or pass-through numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Association has elected to not use the 10-percent de minimis indirect cost rate on new grants as allowed under the Uniform Guidance.
* Denotes major program, which compromise 47% of total expenditures of federal awards.
Title: Amounts Provided to Subrecipents
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 may or may not be allowable or may be limited as to reimbursement. In addition, agency or pass-through numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Association has elected to not use the 10-percent de minimis indirect cost rate on new grants as allowed under the Uniform Guidance.
The Association has not passed through any federal awards to subrecipients during the year ended December 31, 2024.