Audit 2067

Title: Note A - Basis of Presentation Accounting Policies: The accompanying schedule of expenditures of federal and state awards (the Schedule) summarizes the expenditures of the North Carolina Association of County Commissioners (the Association). The Schedule is presented on the accrual basis of accounting. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). For purposes of the Schedule, federal and state awards include all grants, contracts, and similar agreements entered into directly between the Association and agencies and departments of the federal government and all subawards made to the Association by state and other nonfederal organizations pursuant to federal grants, contracts, and similar agreements. De Minimis Rate Used: N Rate Explanation: No indirect costs were incurred during the audit period. The accompanying schedule of expenditures of federal and state awards (the Schedule) summarizes the expenditures of the North Carolina Association of County Commissioners (the Association). The Schedule is presented on the accrual basis of accounting. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). For purposes of the Schedule, federal and state awards include all grants, contracts, and similar agreements entered into directly between the Association and agencies and departments of the federal government and all subawards made to the Association by state and other nonfederal organizations pursuant to federal grants, contracts, and similar agreements.

Title: Note B - Indirect Cost Rate Accounting Policies: The accompanying schedule of expenditures of federal and state awards (the Schedule) summarizes the expenditures of the North Carolina Association of County Commissioners (the Association). The Schedule is presented on the accrual basis of accounting. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). For purposes of the Schedule, federal and state awards include all grants, contracts, and similar agreements entered into directly between the Association and agencies and departments of the federal government and all subawards made to the Association by state and other nonfederal organizations pursuant to federal grants, contracts, and similar agreements. De Minimis Rate Used: N Rate Explanation: No indirect costs were incurred during the audit period. The Association has elected not to adopt the deminimis indirect cost rate of 10%.