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 allowed or are limited as to reimbursement. Negative amounts
shown on the Schedule represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: The 10% de minimis cost rate as permitted in the UG, Section 200.414 is used.
The accompanying schedule of expenditures of federal awards includes the federal award activity of
Stephens County under programs of the federal government for the year ended December 31, 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, Costs Principles, and Audit
Requirements for Federal Awards (Uniform Guidance), Audits of States, Local Governments, and Non-
Profit Organizations. Because the Schedule presents only a selected portion of the operations of
Stephens County, it is not intended to and does not present the financial position, changes in net assets,
or cash flows of Stephens County.
Title: Summary of Significant Accounting Policies
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 allowed or are limited as to reimbursement. Negative amounts
shown on the Schedule represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: The 10% de minimis cost rate as permitted in the UG, Section 200.414 is used.
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 allowed or are limited as to reimbursement. Negative amounts
shown on the Schedule represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years.
Title: Indirect Cost Rate
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 allowed or are limited as to reimbursement. Negative amounts
shown on the Schedule represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: The 10% de minimis cost rate as permitted in the UG, Section 200.414 is used.
The 10% de minimis cost rate as permitted in the UG, Section 200.414 is used.