Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual or modified accrual basis ofaccounting. Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.Negative amounts shown on the Schedule represent adjustments or credits made in the normal course ofbusiness to amounts reported as expenditures in prior years. Pass-through entity identifying numbers arepresented where available.The underlying accounting records for some grant programs are maintained on the modified accrual basisof accounting. Under the modified accrual basis, revenues are recorded when susceptible to accrual, i.e.,both measurable and available. Available means collectible within the current period or soon enoughthereafter to be used to pay liabilities of the current period. Expenditures are recorded when the liability isincurred. The accounting records for other grant programs are maintained on the accrual basis, i.e., whenthe revenue has been earned and the liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The County of McHenry has not elected to use the 10% de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awardactivity of the County of McHenry under programs of the federal government for the year endedNovember 30, 2022. The information in this Schedule is presented in accordance with the requirementsof Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedulepresents only a selected portion of the operations of the County of McHenry it is not intended to and doesnot present the financial position, changes in net position or cash flows of the County of McHenry.The County of McHenry is the primary government according to GASB criteria while the ConservationDistrict is a discretely presented component unit.The Conservation District was not required to have an audit in accordance with the Uniform Guidance.
Title: Noncash Payments
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual or modified accrual basis ofaccounting. Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.Negative amounts shown on the Schedule represent adjustments or credits made in the normal course ofbusiness to amounts reported as expenditures in prior years. Pass-through entity identifying numbers arepresented where available.The underlying accounting records for some grant programs are maintained on the modified accrual basisof accounting. Under the modified accrual basis, revenues are recorded when susceptible to accrual, i.e.,both measurable and available. Available means collectible within the current period or soon enoughthereafter to be used to pay liabilities of the current period. Expenditures are recorded when the liability isincurred. The accounting records for other grant programs are maintained on the accrual basis, i.e., whenthe revenue has been earned and the liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The County of McHenry has not elected to use the 10% de minimis indirect cost rate.
The County receives vaccines at no charge from the Illinois Department of Public Health through federally assisted programs Immunization Grants (AL: 93.268). The value of vaccines received during the year ended November 30, 2022 was $211,587. Of this amount, $54,830 remained unused, and was included as inventory at November 30, 2022.
Title: Insurance and Loans or Loan Guarantee Programs
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual or modified accrual basis ofaccounting. Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.Negative amounts shown on the Schedule represent adjustments or credits made in the normal course ofbusiness to amounts reported as expenditures in prior years. Pass-through entity identifying numbers arepresented where available.The underlying accounting records for some grant programs are maintained on the modified accrual basisof accounting. Under the modified accrual basis, revenues are recorded when susceptible to accrual, i.e.,both measurable and available. Available means collectible within the current period or soon enoughthereafter to be used to pay liabilities of the current period. Expenditures are recorded when the liability isincurred. The accounting records for other grant programs are maintained on the accrual basis, i.e., whenthe revenue has been earned and the liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The County of McHenry has not elected to use the 10% de minimis indirect cost rate.
During the year ended November 30, 2022, McHenry County received no insurance loans, loans or loan guarantees for the purpose of administering federal programs.