Audit 23306

Accounting Policies: NOTE 1.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESThe accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance includes the federal and state award activity of Columbia County , Florida and is presented on the accrual basis of accounting. The information in this 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 and Chapter 10.550, Rules of the State of Florida, Office of the Auditor General. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.A.Reporting EntityThe reporting entity consists of Columbia County, the primary government, and each of its component units. The County includes a Schedule of Expenditures of Federal Awards and State Financial Assistance in the Compliance SectionB.Basis of AccountingBasis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting related to the timing of the measurements made, regardless of the measurement focus.The accrual basis of accounting is followed in the Schedule of Federal Awards and State Financial Assistance. Under the accrual basis, revenues are recognized when they become earned. Expenses generally are recorded when a liability is incurred.D.SubrecipientsThe Schedule of Federal Awards and State Financial Assistance is required to identify amounts that are passed through to subrecipient of grant funding. The County did not have any subrecipients in the current year.NOTE 2. Indirect Cost RateThe County did not elect to use the 10% de minimis cost rate. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.