Notes to SEFA
The Town of Coulee Dam received a loan in the amount of $4,700,000 and subsequent loans in the amounts of $936,000 and $304,000 to build a Wastewater Treatment Facility from the United States Department of Agriculture. (a) The Town of Coulee Dam was approved by the USDA Rural Utilities Service to receive a loan in the amount of $4,700,000 and subsequent loans in the amounts of $936,000 and $304,000 to build a sewer treatment plant. Interim loan financing was received for the construction period. The balance owing at the end of the period is $5,453,462. Both the current and prior year loans are reported on the Town of Coulee Dam Schedule of Liabilities.
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the Town of Coulee Dam portion, are more than shown. Such expenditures are recognized following, as applicable, either the cost principles in the OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.