Notes to SEFA
Title: 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 not limited as to reimbursement. Pass-through identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect costs rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of White River Planning and Development District, Inc. and is presented on the 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: MATCHING REQUIREMENTS
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 not limited as to reimbursement. Pass-through identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect costs rate as allowed under the Uniform Guidance.
Certain federal programs require that the District contribute non-federal funds (matching funds) to support the federal funded programs. The District has complied with the matching requirements. The expenditures of non-federal matching funds are not included on the schedule.
Title: 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 not limited as to reimbursement. Pass-through identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect costs rate as allowed under the Uniform Guidance.
White River Planning and Development District, Inc. had the following loan balances outstanding at June 30, 2023. These loan balances outstanding are also included in the calculation of federal expenditures presented in the schedule. Intermediary Relending Program - CFDA 10.767 - Loans Outstanding for year ended June 30, 2023 - $1,368,351. Revolving Loan Fund - COVID-19 - CFDA 11.307 - Loans outstanding for year ended June 30, 2023 - $776,408