Notes to SEFA
Title: Reporting Entity:
Accounting Policies: This accompanying schedule has been prepared on the modified accrual basis of accounting. 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).
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis indirect cost rate for fiscal year 2023.
The accompanying schedule of expenditures of federal awards (schedule) presents all activity or expenditure or all federal award programs of the Pine-Strawberry Water Improvement District (District) for the year ended June 30, 2023. The District’s reporting entity is defined in note 1 of the basic financial statements. All expenditure of federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included in the schedule.
Title: Basis of Accounting:
Accounting Policies: This accompanying schedule has been prepared on the modified accrual basis of accounting. 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).
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis indirect cost rate for fiscal year 2023.
This accompanying schedule has been prepared on the modified accrual basis of accounting. 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).
Title: Indirect Cost Rate:
Accounting Policies: This accompanying schedule has been prepared on the modified accrual basis of accounting. 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).
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis indirect cost rate for fiscal year 2023.
The District did not elect to use the 10% de minimis indirect cost rate for fiscal year 2023.
Title: Federal Loans and Loan Guarantee Programs Outstanding:
Accounting Policies: This accompanying schedule has been prepared on the modified accrual basis of accounting. 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).
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis indirect cost rate for fiscal year 2023.
The District has outstanding at fiscal year ending June 30, 2023, funding from the U.S. Department of Agriculture through the USDA Rural Utility Services for Assistance Listing #10.760 Water Disposal Systems for Rural Communities in the amount of $3,761,679. There were no additional compliance requirements for these loans.