Notes to SEFA
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of the Water Well Trust, Inc. for the year ended December 31, 2025. The information in this SEFA is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements for Federal Awards (Uniform Guidance). Because the SEFA presents only a select portion of the operations of the Water Well Trust, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of the Water Well Trust, Inc.
Expenditures reported in the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursements. Water Well Trust, Inc. has elected not to use the de minimis indirect cost rate apermitted under 2 CFR 200.414(F) for any federal awards. Indirect cost rates were charged in accordance with the specific terms and conditions of each award, which included a combination of awards issued prior to and subsequent to the October 1, 2024 revisions to the Uniform Guidance. As a result, the Schedule of Expenditures of Federal Awards does not include expenditures calculated using either the 10% or 15% de minimis indirect cost rate.