Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) is presented on the accrual 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, Costs Principles and Audit Requirements for Federal Awards. (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of JXN Water, it is not intended to and does not present the financial position, changes in net assets, or cash flows of JXN Water.
Expenditures reported on the Schedules 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 are not allowable or are limited as to reimbursement
The Organization has not elected to use the 10% de minimis indirect cost rate.