Notes to SEFA
Accounting Policies: Basis of PresentationThe accompanying schedule of expenditures of federal awards includes the federal awardactivity of Franklin County under programs of the federal government for the year endedSeptember 30, 2022. The information in this schedule is presented in accordance with therequirements of Title 2 U.S. Code of Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance). Because the Schedule presents only a selected portion of the operations ofFranklin County, it is not intended to and does not present the financial position or change innet assets of the County. Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on theaccrual basis of accounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain expenditures are not allowed or arelimited as to reimbursement.The County is not eligible to use the 10% de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.