Notes to SEFA
Title: FAIR VALUE OF NONCASH AWARDS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for amounts passed through to subrecipients which are reported on the Schedule when the disbursement is made to the subrecipient. 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: The County has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Included in the amount reported for Assistance Listing Number 10.557 Special Supplemental Nutrition Program for Women, Infants and Children (“WIC”) is $14,897,453 for the value of the redeemed food instrument issuances. A food instrument is a check produced through the New York State WIC Statewide Information System ("WICSIS") that is issued to WIC participants and may be redeemed to obtain WIC approved foods/formula from authorized vendors.
Included in the amount reported for Assistance Listing Number 93.568 Low-Income Home Energy Assistance Program (“HEAP”) are payments to utility vendors for $7,684,793 issued directly by the New York State Office of the State Comptroller (“OSC”). These payments are processed through the Statewide Financial System (“SFS”).
Title: LOAN GUARANTEE PROGRAM
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for amounts passed through to subrecipients which are reported on the Schedule when the disbursement is made to the subrecipient. 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: The County has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The loan guarantee program (“Loans”) outstanding at the beginning of the year, plus any advances or loan proceeds received during the year, are included in the federal expenditures presented in the Schedule. The balance of the Loans at the end of the year for the above federal program amounted to $1,721,000.