Title: Note 1. Basis of Presentation
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity
Title: Note 1. Basis of Presentation
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
of Marshall County, Kentucky under programs of the federal government for the year ended June 30,2020. The
Title: Note 1. Basis of Presentation
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal
Title: Note 1. Basis of Presentation
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Title: Note 1. Basis of Presentation
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations
Title: Note 1. Basis of Presentation
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
of Marshall County, Kentucky, it is not intended to and does not present the financial position, changes in net
Title: Note 1. Basis of Presentation
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
assets, or cash flows of Marshall County, Kentucky.
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
Expenditures reported on the Schedule are reported on the basis of the accounting practices prescribed or
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
permitted by the Department for Local Government to demonstrate compliance with the Commonwealth of
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
Kentucky’s regulatory basis of accounting and budget laws, which is a basis of accounting other than accounting
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
principles generally accepted in the United States of America. Such expenditures are recognized following the
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
made in the normal course of business to amounts reported as expenditures in prior years.
Title: Note 3. Indirect Cost Rate
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
Marshall County has not adopted an indirect cost rate and has not elected to use the 10 percent deminimus
Title: Note 3. Indirect Cost Rate
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
indirect cost rate allowed under the Uniform Guidance.
Title: Note 4. Amounts Passed Through to Subrecipients Column
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
The column on the accompanying schedule captioned “Amounts Passed Through to Subrecipients“ represents
Title: Note 4. Amounts Passed Through to Subrecipients Column
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
the amounts transferred by the Marshall County Fiscal Court to subrecipients. During the fiscal year the Marshall
Title: Note 4. Amounts Passed Through to Subrecipients Column
Accounting Policies: Regulatory Basis
De Minimis Rate Used: N
Rate Explanation: See attached for details
County Fiscal Court did not pass any federal funds to subrecipients.