Notes to SEFA
Title: Reporting Entity
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Le Sueur County has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The schedule of expenditures of federal awards (the Schedule) presents the activities of federal award programs expended by Le Sueur County (the County). Le Sueur County's financial statements include the operations of the Housing and Redevelopment Authority of Le Sueur County (HRA), a discretely presented component unit of Le Sueur County. The HRA's federal awards are not included in the schedule of expenditures of federal awards, since the HRA has been audited by other auditors and those amounts are reported in a separate report. The Countys reporting entity is defined in Note 1 to the financial statements.
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Le Sueur County has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Le Sueur 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). Because the Schedule presents only a selected portion of the operations of Le Sueur County, it is not intended to and does not present the financial position, changes in net position or cash flows of Le Sueur County.
Title: Reconciliation to Schedule of Intergovernmental Revenue
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Le Sueur County has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The difference between the total on the schedule of expenditures of federal awards compared to federal grants in the schedule of intergovernmental revenue is primarily due to Department of Health and Human Service, and Agriculture grants that were expended in 2022, but the grant funds were not received until after 60 days into 2023. Additionally, there were Health and Human Services, and Agriculture grants that were related to 2021 but not received until 2022.