Notes to SEFA
Title: Note 1 ‐ Basis of Presentation
Accounting Policies: Expenditures reported in the schedule are reported on the modified accrual basis of accounting, except for
subrecipient expenditures, which are recorded on the cash basis. 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.
De Minimis Rate Used: N
Rate Explanation: The County has not elected to use the 10% de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity
of the County of Linn, Iowa (County) under programs of the federal government for the year ended June 30,
2023. 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, or cash flows of the County.
Title: Note 2 ‐ Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported in the schedule are reported on the modified accrual basis of accounting, except for
subrecipient expenditures, which are recorded on the cash basis. 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.
De Minimis Rate Used: N
Rate Explanation: The County has not elected to use the 10% de minimis cost rate.
Expenditures reported in the schedule are reported on the modified accrual basis of accounting, except for
subrecipient expenditures, which are recorded on the cash basis. 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.
Title: Note 3 ‐ Indirect Cost Rate
Accounting Policies: Expenditures reported in the schedule are reported on the modified accrual basis of accounting, except for
subrecipient expenditures, which are recorded on the cash basis. 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.
De Minimis Rate Used: N
Rate Explanation: The County has not elected to use the 10% de minimis cost rate.
The County has not elected to use the 10% de minimis cost rate.