Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. 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: Haywood County elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompaning Schedule of Expenditures of Federal and State Awards (SEFSA) includes the federal and state grant activity of Haywood County under the programs of the federal government and the State of North Carolina for the year ended June 30, 2023. The information in this SEFSA 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) and the State Single Audit Implementation Act. Because the Schedule presents only a selected portion of the operations of Haywood County, it is not intended to and does not present the financial position, changes in net position or cash flows of Haywood County
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. 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: Haywood County elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost prinicples contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Haywood County has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Cluster of Programs
Accounting Policies: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. 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: Haywood County elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The following are clustered by the NC Department of Health and Human Services and are treated separetly for state audit requirement purposes: Subsidized Child Care, Foster Care and Adoption