Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable
or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Cabarrus County has elected not to use the 10‐percent de Minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal and State Awards (SEFSA) includes the federal and state grant activity of Cabarrus County under the programs of the federal government and the state of North Carolina for the year ended
June 30, 2023. The information in this SEFSA 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 and the State Single Audit Implementation Act. Because the schedule presents only a selected portion of the operations of Cabarrus County, it is not intended to and does not present the financial position, changes in net position or cash
flows of Cabarrus County.
Title: Cluster of Program
Accounting Policies: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable
or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Cabarrus County has elected not to use the 10‐percent de Minimis indirect cost rate as allowed under the Uniform Guidance.
The following are clustered by the NC Department of Health and Human Services and are treated separately for state audit requirement purposes: Foster Care and Adoption and Guardianship Assistance, Special Children Adoption Fund, and
Subsidized Child Care Program.
Title: Opioid Settlement Fund
Accounting Policies: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable
or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Cabarrus County has elected not to use the 10‐percent de Minimis indirect cost rate as allowed under the Uniform Guidance.
The NC Department of Justice does not consider Opioid Settlement Funds either Federal or State Financial assistance since they are from a settlement with private major drug companies. Since these funds are subject to the State Single Audit
Implementation Act, they are reported as "Other Financial Assistance" on the SEFSA, and considered State Awards for State single audit requirements.