Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to utilize the ten percent de minimis indirect cost rate as of June 30, 2023.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Greenwood Metropolitan District (the “District”) under programs of the federal government for the year ended June 30, 2023. The information in this 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). Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position or cash flows of the District.
Title: Note 2. Summary of Significant Accounting Policies for Federal Awards
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to utilize the ten percent de minimis indirect cost rate as of June 30, 2023.
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.
Title: Note 3. Indirect Cost Rate
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to utilize the ten percent de minimis indirect cost rate as of June 30, 2023.
The District has not elected to utilize the ten percent de minimis indirect cost rate as of June 30, 2023.
Title: Note 4. Loans Outstanding
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to utilize the ten percent de minimis indirect cost rate as of June 30, 2023.
The District had the following loan balances outstanding at June 30, 2023. Loans made during the year are included in the federal expenditures presented in the schedule. Program Title Federal CFDA Number Amount Outstanding
Clean Water State Revolving Funds 66.458 $ 2,933,744