Title: Note 1: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards. Under these principles, certain types of expenditures are not allowable 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: N
Rate Explanation: The County did not elect to use the 10% De Minimis cost rate for indirect costs. For the year ended June 30, 2023, there were no indirect costs included in the schedule of expenditures of federal awards.
The accompanying Schedule of Expenditures of Federal Awards includes Federal grant activity of Kent County, Delaware (the County) and is presented on the modified accrual basis of accounting. Matching funds are excluded from the schedule and the Program Income generated from Federal Grants is classified as Federal Expenditures when spent. The information on this schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: Note 2: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards. Under these principles, certain types of expenditures are not allowable 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: N
Rate Explanation: The County did not elect to use the 10% De Minimis cost rate for indirect costs. For the year ended June 30, 2023, there were no indirect costs included in the schedule of expenditures of federal awards.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the
Uniform Guidance for all awards. Under these principles, certain types of expenditures are not allowable 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: Note 3: Loans Oustanding
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards. Under these principles, certain types of expenditures are not allowable 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: N
Rate Explanation: The County did not elect to use the 10% De Minimis cost rate for indirect costs. For the year ended June 30, 2023, there were no indirect costs included in the schedule of expenditures of federal awards.
During fiscal year 2020, the County was awarded $1,023,000 in loan proceeds from the Delaware Department of Natural Resources and Environmental Control, Delaware Water Pollution Control Revolving Fund, for the Air Blower Optimization project under the Capitalization Grants for Clean Water State Revolving Funds Program (ALN #66.458). This loan is not fully drawn down, and expenditures related to it in the amount of $175,985 are reflected in the schedule of expenditures of federal awards. The loan balance at June 30, 2023 was $731,786 ($609,797 or 83.33 percent federal funds and $121,989 or 16.67 percent
state funds).
During fiscal year 2021, the County was awarded $1,640,000 in loan proceeds from the Delaware Department of Natural Resources and Environmental Control, Delaware Water Pollution Control Revolving Fund, for the Plant-Wide Power Backup project under the Capitalization Grants for Clean Water State Revolving Funds Program (ALN #66.458). This loan is not fully drawn down, and expenditures related to it in the amount of $130,147 are reflected in the schedule of expenditures of federal awards. The loan balance at June 30,
2023 was $1,215,417 ($1,012,807 or 83.33 percent federal funds and $202,610 or 16.67 percent state funds).
During fiscal year 2023, the County was awarded $17,000,000 in loan proceeds from the Delaware Department of Natural Resources and Environmental Control, Delaware Water Pollution Control Revolving Fund, for the Biosolids Capacity Expansion project under the Capitalization Grants for Clean Water State Revolving Funds Program (ALN #66.458). This loan is not fully drawn down, and expenditures related to it in the amount of $679,930 are reflected in the schedule of expenditures of federal awards. The loan balance at June 30, 2023 was $815,948 ($679,930 or 83.33 percent federal funds and $136,018 or 16.67 percent state funds).
Title: Note 4: Indirect Costs
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards. Under these principles, certain types of expenditures are not allowable 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: N
Rate Explanation: The County did not elect to use the 10% De Minimis cost rate for indirect costs. For the year ended June 30, 2023, there were no indirect costs included in the schedule of expenditures of federal awards.
The County did not elect to use the 10% De Minimis cost rate for indirect costs. For the year ended June 30, 2023, there were no indirect costs included in the schedule of expenditures of federal awards.
Title: Note 5: Noncash Awards
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards. Under these principles, certain types of expenditures are not allowable 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: N
Rate Explanation: The County did not elect to use the 10% De Minimis cost rate for indirect costs. For the year ended June 30, 2023, there were no indirect costs included in the schedule of expenditures of federal awards.
The amount of equipment and supplies reported on the schedule is the value of the item based on the agencies acquisition price.