Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Acona Water Association under the Coronavirus State and Local Fiscal Recovery Funds pass through by Mississippi State Department of Health, American Rescue Plan Act: Rural Water Associations Infrastructure Grant Program for the year ended December 31, 2025. The information in the Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) 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 Acona Water Association, it is not intended to, and does not, present the net position, changes in net position or cash flows of the water association.
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 are limited as to reimbursement.
Acona Water Association did not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The grant agreement does not permit the charging of indirect costs. Accordingly, no indirect costs were claimed or included in the expenditures as part of the federal award activity of Acona Water Association under the Coronavirus State and Local Fiscal Recovery Funds pass through by Mississippi State Department of Health, American Rescue Plan Act: Rural Water Systems Infrastructure Grant Program for the year ended December 31, 2025.