Notes to SEFA
Title: NOTE A – GENERAL
Accounting Policies: The SEFA was prepared using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Commission elected not to use the de minimus indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) presents the activity of all federal award programs of the Barnwell County Commission on Alcohol and Drug Abuse for the year ended June 30, 2023. All federal awards received directly from federal agencies, as well as those passed through other government agencies, are included on the Schedule.
Title: NOTE B – BASIS OF ACCOUNTING
Accounting Policies: The SEFA was prepared using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Commission elected not to use the de minimus indirect cost rate.
The accompanying Schedule is presented using the modified accrual basis of accounting.
Title: NOTE C – RELATIONSHIP TO FINANCIAL STATEMENTS
Accounting Policies: The SEFA was prepared using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Commission elected not to use the de minimus indirect cost rate.
Federal award expenditures are reported in the Commission’s financial statements as expenditures in the various programs.
Title: NOTE D – RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Accounting Policies: The SEFA was prepared using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Commission elected not to use the de minimus indirect cost rate.
Amounts reported in the accompanying Schedule agree with the amounts reported in the related federal financial reports except for timing differences relating to expenditures made subsequent to the filing of the federal financial reports.
Title: NOTE E – DE MINIMIS INDIRECT COST RATE
Accounting Policies: The SEFA was prepared using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Commission elected not to use the de minimus indirect cost rate.
The Commission has not elected to use the 10% de minimis indirect cost rate.