Notes to SEFA
The accompanying schedule of expenditures of federal awards - modified cash basis (the schedule) includes the federal award activity of Garrison Diversion Conservancy District, under programs of the federal government for the year ended December 31, 2025. The information 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 Garrison Diversion Conservancy District, it is not intended to and does not present the financial position, changes in net position or fund balance of Garrison Diversion Conservancy District.
Expenditures reported in the schedule are reported on the modified cash basis of accounting, except for subrecipient expenditures, which are recorded on the cash basis. When applicable 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.
Garrison Diversion Conservancy District has not elected to use the de minimis cost rate of up to 15 percent.