Notes to SEFA
Accounting Policies: BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award
activity of Black Hawk County under programs of the federal government for the year ended June 30,
2023. The information in this Schedule is presented in accordance with the requirements to 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 Black Hawk County, it is not intended to and does not present the
financial position, changes in financial position or cash flows of Black Hawk County.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported in 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 were not allowable or are limited as to
reimbursements.
De Minimis Rate Used: N
Rate Explanation: INDIRECT COST RATE
Black Hawk County has elected not to use the 10% de minimis indirect cost rate as allowed under the
Uniform Guidance.