Title: PURPOSE OF SCHEDULE
Accounting Policies: Modified Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: Direct costs are used.
The schedule of expenditures of federal awards is a supplementary schedule to Clatsop County’s basic financial statements and is presented for additional analysis. Because the schedule presents only a selected portion of the activities of the County, it is not intended to and does not present the financial position, changes in net position, nor the operating funds’ revenues and expenditures.
Title: BASIS OF PRESENTATION
Accounting Policies: Modified Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: Direct costs are used.
The information in the schedule of expenditures of federal awards is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Title: FEDERAL FINANCIAL ASSISTANCE
Accounting Policies: Modified Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: Direct costs are used.
Pursuant to the Uniform Guidance, federal financial assistance is defined as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts, cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance, or direct appropriations. Accordingly, non-monetary federal assistance, including federal surplus property, is included in federal financial assistance and, therefore, is reported on the schedule of expenditures of federal awards, if applicable. Federal financial assistance does not include direct federal cash assistance to individuals. Solicited contracts between the state and federal government for which the federal government procures tangible goods or services are not considered to be federal financial assistance.
Title: INDIRECT COST RATE
Accounting Policies: Modified Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: Direct costs are used.
The County has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: MAJOR PROGRAMS
Accounting Policies: Modified Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: Direct costs are used.
The Uniform Guidance establishes criteria to be used in defining major federal financial assistance programs. Major programs for the County are those programs selected for testing by the auditor using a risk assessment model, as well as certain minimum expenditure requirements, as outlined in the Uniform Guidance. Programs with similar requirements may be grouped into a cluster for testing purposes. Major programs include Assistance Listing No. 21.027 American Rescue Plan Act of 2021 (COVID) and Assistance Listing No. 99.999 BPA Select Fisheries Enhancement.
Title: REPORTING ENTITY
Accounting Policies: Modified Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: Direct costs are used.
The reporting entity is fully described in the notes to the County’s basic financial statements. Additionally, the schedule of expenditures of federal awards includes all federal programs administered by the County for the year ended June 30, 2023.
Title: REVENUE AND EXPENDITURE RECOGNITION
Accounting Policies: Modified Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: Direct costs are used.
The receipt and expenditure of federal awards are accounted for under the modified accrual basis of accounting.