Title: Contingency
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Projects (the Schedule) includes the Federal and State grant activity for Sarasota County, Florida (the County) and is presented on the modified accrual basis of accounting for expenditures accounted for in the governmental funds and the accrual basis of accounting for expenditures in proprietary funds. Under the modified accrual basis, revenue is recognized if it is both measurable and available for use during the fiscal year, and expenditures are recognized in the period liabilities are incurred, if measurable. Under the accrual basis, expenditures are recognized in the period liabilities are incurred.The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), and Section 215.97, Florida Statutes. Therefore, some amounts presented in the Schedule may differ from amounts presented, or used in the preparation of the basic financial statements for the fiscal year ended September 30, 2022.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The grant revenue amounts received are subject to audit and adjustment. If any expenditures or expenses are disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement to the grantor agencies would become a liability of the County.
Title: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Projects (the Schedule) includes the Federal and State grant activity for Sarasota County, Florida (the County) and is presented on the modified accrual basis of accounting for expenditures accounted for in the governmental funds and the accrual basis of accounting for expenditures in proprietary funds. Under the modified accrual basis, revenue is recognized if it is both measurable and available for use during the fiscal year, and expenditures are recognized in the period liabilities are incurred, if measurable. Under the accrual basis, expenditures are recognized in the period liabilities are incurred.The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), and Section 215.97, Florida Statutes. Therefore, some amounts presented in the Schedule may differ from amounts presented, or used in the preparation of the basic financial statements for the fiscal year ended September 30, 2022.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Of the expenditures presented in the Schedule, Sarasota County provided, as practical, federal awards and state financial assistance to subrecipients as follows: See Table in Report.
Title: COVID-19 Coronavirus State and Local Fiscal Recovery Funds (21.027)
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Projects (the Schedule) includes the Federal and State grant activity for Sarasota County, Florida (the County) and is presented on the modified accrual basis of accounting for expenditures accounted for in the governmental funds and the accrual basis of accounting for expenditures in proprietary funds. Under the modified accrual basis, revenue is recognized if it is both measurable and available for use during the fiscal year, and expenditures are recognized in the period liabilities are incurred, if measurable. Under the accrual basis, expenditures are recognized in the period liabilities are incurred.The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), and Section 215.97, Florida Statutes. Therefore, some amounts presented in the Schedule may differ from amounts presented, or used in the preparation of the basic financial statements for the fiscal year ended September 30, 2022.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
On March 11, 2021, the American Rescue Plan Act (ARPA) was signed into law by the President. Section 9901 of ARPA amended Title VI of the Social Security Act to add Section 602, which establishes the Coronavirus State Fiscal Recovery Fund (CSFRF). It also added Section 603, the Coronavirus Local Fiscal Recovery Fund (CLFRF). Sarasota County, as with every county, metropolitan city, and nonentitlement units of governments, is an eligible recipient of CLFRF funding. The funding is administered by the U.S. Treasury. On May 10, 2021, the U.S. Treasury released its Interim Final Rule (IFR), FAQ sheet, and other summary guidance along with the allocations for each unit of government. According to the ARPA and Treasurys IFR, there are 4 broad categories of eligible uses: public health and economic impacts, investments in infrastructure (water, sewer, and broadband), revenue loss, and premium pay. On December 7, 2021, the Sarasota County Board of County Commissioners determined allocation of the CLFRF funding. This allocation was not determined in time to reflect expenses on the fiscal year 2021 Schedule of Expenditures of Federal Awards and State Projects (SEFA) reporting. Therefore $2,455,175 of fiscal year 2021 expenditures that were not reported are included in fiscal year 2022 SEFA report.