Notes to SEFA
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.
De Minimis Rate Used: N
Rate Explanation: Johnson County Park & Recreation District has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414.
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of all federal award programs of the Johnson County Park & Recreation District (the District), 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 (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Johnson County Park & Recreation District, it is not intended to and does not present the financial position, changes in net position or cash flows of the District.