Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accounting policies of the District conform to accounting principles generally accepted in the United States of America as applicable to enterprise governments. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for governmental accounting and financial reporting principles. The GASB establishes standards for financial reporting for all State and local governmental entities, which require a management discussion and analysis section, a statement of net position, a statement of revenues, expenses and changes in net position, and, a statement of cash flows. It requires the classification of net position into three components: investment in capital assets, restricted net position, and unrestricted net position. Details of significant accounting policies can be found in Note 2 of the Notes to Financial Statements, within the Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2022.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
WATER INFRASTRUCTURE FINANCE AND INNOVATION (WIFIA) (E) (66.958) - Balances outstanding at the end of the audit period were 4914555. CAPITALIZATION GRANTS FOR CLEAN WATER STATE REVOLVING FUNDS (66.458) - Balances outstanding at the end of the audit period were 381270.