Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of Tripp County Water User District under programs of the federal government for the year ended December 31, 2025. The information in this 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 Tripp County Water User District., it is not intended to and does not present the financial position, changes in net position, or cash flows Tripp County Water User District.
Expenditures reported on the Schedule 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 limited as to reimbursement. The Water User District has not elected to use the de minimis indirect cost rate permitted under Uniform Guidance for applicable federal awards.