Notes to SEFA
The Town was approved by the USDA Rural Utilities Service to receive a loan totaling $ 3,934,000 to improve the Wastewater Treatment Plant. Interim loan financing was received during the construction period and was paid off in December 2023.
The amounts shown as current year expenditures represent only the Federal grant portion of the program costs. Entire program costs, including the Town’s portion, may be 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. The Town of Naches has entered into a USDA- Rural Development Loan/Grant Agreement for the Towns’ Wastewater Treatment Plant Expansion Phase 2.