Notes to SEFA
Title: Note A ‐ Basis of Presentation
Accounting Policies: Expenditures are reported in the schedule are reported on the modified cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Provisional Cost Rate
The accompanying schedule of expenditures of federal awards includes the federal award activity of Billings
County under programs of the federal government for the years ended December 31, 2022. The information 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 the County, it is not intended to and
does not present the financial position, changes in net position or fund balance of Billings County. The County
received federal awards directly from federal agencies.
Title: Note B ‐ Significant Accounting Policies
Accounting Policies: Expenditures are reported in the schedule are reported on the modified cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Provisional Cost Rate
Expenditures are reported in the schedule are reported on the modified cash basis of accounting. When
applicable, 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. No federal financial
assistance has been provided to a subrecipient.
Title: Note C – Indirect Cost Rate
Accounting Policies: Expenditures are reported in the schedule are reported on the modified cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Provisional Cost Rate
The County has not elected to use the 10% de minimis cost rate.