Notes to SEFA
Title: Reconciliation to Schedule of Intergovernmental Revenue
Accounting Policies: Summary of Significant Accounting Policies
Reporting Entity
The Schedule of Expenditures of Federal Awards presents the activities of federal award programs expended by Otter Tail County. The County’s reporting entity is defined in Note 1 to the financial statements. The schedule does not include $581,150 in federal awards expended by the Otter Tail County Housing and Redevelopment Authority component unit. The component unit is legally separate from the primary government and expended less than $750,000 of federal awards for the year ended December 31, 2022, and, therefore, was not subject to the audit 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).
Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Otter Tail County under programs of the federal government for the year ended December 31, 2022. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Because the schedule presents only a selected portion of the operations of Otter Tail County, it is not intended to and does not present the financial position, changes in net position, or cash flows of Otter Tail County.
Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Otter Tail County has elected to not use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance.
See Notes to the SEFA for Charts/Table