Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Note 1. Basis of Presentation The accompanying schedule of expenditures of federal and state awards (the "Schedule") includes the federal and state award activity of the San Diego Municipal Utility District No. l (District) under programs of the federal government and State of Texas for the year ended June 30, 2022. 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 (Unifo1m Guidance) and the Texas Uniform Grant Management Standards (UGMS). Because the Schedule presents only a selected portion of the operations of the County, it is not intended to and does not present the financial position, changes in net position of the County. Note 2. Summary of Significant Accounting Policies Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance, or UGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursements. Negative accounts shown in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in the prior year. Note 3. Relationships to Federal and State Financial Reports Amounts reported in the Schedule may not agree with the amounts reported in the related Federal/State financial reports filed with granter agencies because of accruals which would be included in the next report filed with the agencies. Note 4. Indirect Cost Rate The District has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
WATER AND WASTE DISPOSAL LOANS AND GRANTS (SECTION 306C) (10.770) - Balances outstanding at the end of the audit period were 562000. WATER AND WASTE DISPOSAL SYSTEMS FOR RURAL COMMUNITIES (10.760) - Balances outstanding at the end of the audit period were 1078000.