Notes to SEFA
Title: Basis of presentation
Accounting Policies: Summary of Accounting Policies
De Minimis Rate Used: Y
Rate Explanation: Indirect Cost Rate
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Moultrie County, Illinois under programs of the federal government for the year ended November 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Moultrie County, Illinois, it is not intended to and does not present the financial position, changes in net assets, or cashflows of Moultrie County, Illinois.
Title: Summary of Accounting Policies
Accounting Policies: Summary of Accounting Policies
De Minimis Rate Used: Y
Rate Explanation: Indirect Cost Rate
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 and/or OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Subrecipients
Accounting Policies: Summary of Accounting Policies
De Minimis Rate Used: Y
Rate Explanation: Indirect Cost Rate
Moultrie County did not receive any federal funds on behalf of any other agency.
Title: Indirect Cost Rate
Accounting Policies: Summary of Accounting Policies
De Minimis Rate Used: Y
Rate Explanation: Indirect Cost Rate
Moultrie County has elected to use the 10% de minimis cost rate