Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes activity of the Tualatin Valley Water District (District) funded by the federal government for the year ended June 30, 2025. The District’s reporting entity is defined in Note 1 to the District’s basic financial statements. The information in the 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). Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial net position, changes in net position, nor the cash flows of the District. Expenditures reported in the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for State, Local and Indian Tribal Governments, where applicable, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Expenditures are recorded when the liability is incurred. If applicable, donated commodities are valued at their estimated fair value.
The District has not elected to submit an indirect cost allocation plan nor has it elected to use the ten percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The District did not pass-through federal financial assistance to any subrecipients.
The amount of $790 surplus property reported on the SEFA is the value of the surplus property received by the District during current year and priced as prescribed by Oregon’s Department of Administrative Services.
The District has received a WIFIA loan from the EPA totaling $387,748,990 to fund construction of the Willamette Water Supply System and other capital projects of the District and which was fully expended by June 30, 2024. During fiscal year 2025, no repayments were due; however, the District capitalized interest of $5,338,092. Both the current and prior year loan balances are reported on the District’s financial statements as Long- Term Liabilities and reported in the Notes to the Financial Statements. See TABLE in Notes to the SEFA