Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) presents the activity of all federal awards programs of the Hoopa Valley Public Utilities District (the “District”), for the year ended September 30, 2025. 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). The amounts presented in the Schedule agree to the amounts presented in, or used in the preparation of, the basic financial statements. 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 position, changes in net position, or cash flows of the District
The Schedule is presented using the accrual basis of accounting, the method used to prepare the District’s basic financial statements. Note 1 of the District’s basic financial statements describes the significant accounting policies used by the District. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited to reimbursement.
The District did not provide federal awards to subrecipients during the year ended September 30, 2025.
The District has elected not to use the 15% de minimis indirect cost rate as allowed under Uniform Guidance.