Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for FederalAwards, wherein certain types of expenditures may or may not be allowable ormay be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (theSchedule) includes the federal grant activity of the Ohio Rural WaterAssociation under programs of the federal government for the year endedSeptember 30, 2022. The information on this Schedule is prepared inaccordance with the requirements of Title 2 U.S. Code of Federal RegulationsPart 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedulepresents only a selected portion of the operations of the Association, it is notintended to and does not present the financial position, changes in netposition, or cash flows of the Association.
Title: Matching Requirements
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for FederalAwards, wherein certain types of expenditures may or may not be allowable ormay be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Certain Federal programs require the Association to contribute non-Federal funds(matching funds) to support the Federally funded programs. The Association hasmet its matching requirements. The Schedule does not include the expenditure ofnon-Federal matching funds.