Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federalgrant activity of Kochville Township under programs of the federal government for the year ended March31, 2022. Expenditures reported on the Schedule are reported on the same basis of accounting as thebasic financial statements, although the basis for determining when federal awards are expended ispresented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards. In addition, expenditures reported on the Schedule are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are not allowable or arelimited as to reimbursement. Therefore, some amounts presented in this Schedule may differ fromamounts presented in, or used in the preparation of, the basic financial statements.Because the Schedule presents only a selected portion of the operations of the Township, it is notintended to, and does not, present the financial position, changes in net assets, or cash flows, ifapplicable, of Kochville Township. Pass through entity identifying numbers are presented whereavailable.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Water & Waste Disposal Systems for Rural Communities (10.760) - Balances outstanding at the end of the audit period were $1,648,000.Water & Waste Disposal Systems for Rural Communities (10.760) - Balances outstanding at the end of the audit period were $0.00.
Title: Loans Outstanding
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federalgrant activity of Kochville Township under programs of the federal government for the year ended March31, 2022. Expenditures reported on the Schedule are reported on the same basis of accounting as thebasic financial statements, although the basis for determining when federal awards are expended ispresented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards. In addition, expenditures reported on the Schedule are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are not allowable or arelimited as to reimbursement. Therefore, some amounts presented in this Schedule may differ fromamounts presented in, or used in the preparation of, the basic financial statements.Because the Schedule presents only a selected portion of the operations of the Township, it is notintended to, and does not, present the financial position, changes in net assets, or cash flows, ifapplicable, of Kochville Township. Pass through entity identifying numbers are presented whereavailable.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Kochville Township had the following loan balances outstanding at March 31, 2022 is as follows: Water & Waste Disposal Systems for Rural Communities 10.760 $1,683,000 (35,000) 1,648,000 Water & Waste Disposal Systems for Rural Communities 10.760 $290,550 (290,550) $0.00 total USDA $1,973,550 (325,550) $1,648,000