Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of Christian County Water District (District) under programs of the federal government for the year ended December 31, 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). 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 District was awarded a loan from the United States Department of Agriculture in the amount of $1,800,000. The repayment schedule for this loan is located in the Notes to the Financial Statements under Note 5. The balance of the loan at December 31, 2025 was $1,591,000. The District was awarded a loan from United States Department of Agriculture Rural Development in the amount of $400,000. The repayment schedule for this loan is located in the Notes to the Financial Statements under Note 5. The balance of the loan at December 31, 2025 was $271,500.
Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the 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. The District has not elected to use the 15-percent de minimis indirect cost rate as allowed under Uniform Guidance.
There were no subrecipients during the fiscal year.
The following is a reconciliation of the total in the Schedule of Expenditures of Federal Awards to the federal revenue included in the Statement of Revenues, Expenses and Changes in Net Position: