Notes to SEFA
Title: Note 4 Subrecipients
Accounting Policies: Note 1 Reporting EntityThe financial reporting entity, as defined by the Governmental Accounting Standard Board (GASB), consists of the primary government, which is the Santa Fe Irrigation District (the District), organizations for which the primary government is financially accountable, and other organizations for which the nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entitys financial statements to be misleading or incomplete.Note 2 Basis of AccountingExpenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. The accompanying Schedule of Expenditures of Federal Awards (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). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in, the preparation of the Districts basic financial statements.Note 3 Schedule of Expenditures of Federal AwardsThe accompanying Schedule presents the activity of all federal financial assistance programs of the District. Federal financial assistance passed through the State of California are included in the Schedule. The Schedule was prepared from only the accounts of various grant programs and, therefore, does not present the financial position, change in net position, or cash flows of the District.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the fiscal year ended June 30, 2022, there were no amounts provided to subrecipients.
Title: Note 5 Indirect Cost Rate
Accounting Policies: Note 1 Reporting EntityThe financial reporting entity, as defined by the Governmental Accounting Standard Board (GASB), consists of the primary government, which is the Santa Fe Irrigation District (the District), organizations for which the primary government is financially accountable, and other organizations for which the nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entitys financial statements to be misleading or incomplete.Note 2 Basis of AccountingExpenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. The accompanying Schedule of Expenditures of Federal Awards (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). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in, the preparation of the Districts basic financial statements.Note 3 Schedule of Expenditures of Federal AwardsThe accompanying Schedule presents the activity of all federal financial assistance programs of the District. Federal financial assistance passed through the State of California are included in the Schedule. The Schedule was prepared from only the accounts of various grant programs and, therefore, does not present the financial position, change in net position, or cash flows of the District.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The District has not elected to use the 10% de-minimis indirect rate as allowed under the Uniform Guidance.