Notes to SEFA
Accounting Policies: 1. The schedule of expenditures of federal awards presents the federal award programs expended by Swift County. The County's reporting entity is defined in Note 1 to the financial statements. The schedule does not include $266,553 in federal awards expended by the Swift County Housing and Redevelopment Authority, which has a separate audit. The schedule also does not include $1,049,974 in federal awards expended by the Swift County-Benson Hospital which engaged to have its own single audit. 2. The accompanying schedule of expenditures of federal awards includes the federal grant activity of Swift County under programs of the federal government for the year ended December 31, 2022. The information in this 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) from the Office of Management and Budget (OMB). Because the schedule presents only a selected portion of the operations of Swift County, it is not intended to and does not present the financial position, changes in net position, or cash flows of Swift County. 3. Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, for all awards. Under these principles, certain types of expenditures are not allowable or are limited as to reimbursement. Swift County has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. 4. Reconciliation to the Schedule of Intergovernmental Revenue: Federal Grant Revenue per Schedule of Intergovernmental Revenue $2,326,854 Expenditures in the Schedule of Federal Expenditures, not Included as Revenues Reported in the Schedule of Intergovernmental Revenue 1,372 Revenues included on the Schedule of Intergovernmental Revenue that are not considered Federal Grant Expenditures (901,904) Expenditures per Schedule of Expenditures of Federal Awards $1,426,322
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.