The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City of Yankton and is presented on the cash basis of accounting. 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 Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the financial statements.
The City of Yankton had the following loan balances outstanding from the South Dakota Clean Water State Revolving Fund, Assistance Listing #66.458 and the South Dakota Drinking Water State Revolving Fund, Assistance Listing #66.468 as of December 31, 2024: Total Amount Federal Portion Of Loan Of Loan Outstanding Outstanding Wastewater System #4, Series 2016 (14.13%) $ 2,505,617 $ 354,044 Wastewater System #5, Series 2023 (63.68%) 4,272,041 2,720,328 Wastewater System #7, Series 2024 (0.00%) 554,262 - Total Wastewater System $ 7,331,920 $ 3,074,372 Water System, Services Series #5 (28.42%) $ 9,678,622 $ 2,750,664 Water System, Services Series #6 (20.03%) 31,581,993 6,325,873 Total Water System $ 41,260,615 $ 9,076,537
Expenditures reported in the Schedule are cash basis. 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. The City has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.