Notes to SEFA
Title: Outstanding Balance of Federal Loans
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. (2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The County has not received any federal funding through loans.
Title: Food Distribution
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. (2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed.
Title: Relationship to the Financial Statements
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. (2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Federal expenditures, revenues and capital contributions are reported in the County's basic financial statements as follows: Primary government: General Fund-Intergovernmental $11,889,073 Less: Revenue from the Commonwealth (8,518,611) Less: Payment in Lieu of Taxes (447,204) Component Unit School Board: School Operating Fund-Intergovernmental 48,596,889 Less: Revenue from Local Governments (12,235,932) Less: Revenue from the Commonwealth (29,206,367) Governor's School Fund-Intergovernmental 45,805 Less: Revenue from the Commonwealth (45,805) Total federal expenditures per the Schedule of Expenditures of Federal Awards $10,077,848