Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of the Central Utah Water Conservancy District (the District) under programs of the federal government for the year ended June 30, 2025. 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 District’s financial statements.
For purposes of the supplementary Schedule of Expenditures of Federal Awards, the District includes all the funds of the primary government as defined by Governmental Accounting Standards Board Statement No. 14, The Financial Reporting Entity.
Expenditures reported on the Schedule are reported on the modified 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
The District has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The District does not have any subrecipient transactions.
As of June 30, 2025, the District had a loan balance outstanding of $25,141,000 related to assistance listings number 64.468. These loans are not included in the Schedule as they have no continuing audit requirements.