Notes to SEFA
Title: Note 1
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of Marlboro County for the year ended June 30, 2023. All federal awards received directly from federal agencies as well as those passed through other government agencies are included on the Schedule.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of Marlboro County for the year ended June 30, 2023. All federal awards received directly from federal agencies as well as those passed through other government agencies are included on the Schedule.
Title: Note 2
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of Marlboro County for the year ended June 30, 2023. All federal awards received directly from federal agencies as well as those passed through other government agencies are included on the Schedule.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance
The accompanying Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting which is described in the notes to the County’s basic financial statements.
Title: Note 3
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of Marlboro County for the year ended June 30, 2023. All federal awards received directly from federal agencies as well as those passed through other government agencies are included on the Schedule.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance
Federal award expenditures are reported in the County’s basic financial statements as expenditures in the Special Revenue Fund and General Fund.
Title: Note 4
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of Marlboro County for the year ended June 30, 2023. All federal awards received directly from federal agencies as well as those passed through other government agencies are included on the Schedule.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance
Non-monetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed.
Title: Note 5
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of Marlboro County for the year ended June 30, 2023. All federal awards received directly from federal agencies as well as those passed through other government agencies are included on the Schedule.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance
Differences between the amount of revenue received from federal awards and the related expenditures are recognized as either deferred revenue or receivables in the basis financial statements. The amounts recorded on the Schedule of Federal Awards agree with the amounts recorded in the basis financial statements.