Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursements.
De Minimis Rate Used: N
Rate Explanation: Water Well Trust, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of the Water Well Trust, Inc. for the year ended December 31, 2024. The information in this SEFA is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements for Federal Awards (Uniform Guidance), and Audits of States, Local Governments, and Non-Profit Organizations. Because the SEFA presents only a select portion of the operations of the Water Well Trust, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of the Water Well Trust, Inc.