Notes to SEFA
Title: Basis of Presentation
Accounting Policies: VLKVAHDJ4MW8
De Minimis Rate Used: N
Rate Explanation: The County did not use the 10% de minimis cost rate for the current year.
The accompanying Schedule of Expenditures of Federal Awards (the schedule) includes the federal grant activity of Cibola County (the County) under program of the federal government for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards.
Because the Schedule presents only a selected portion of the operations of the County, it is not intended to and does not present the financial position or changes in net position of the
County.
Title: Summary of Significant Accounting Policies
Accounting Policies: VLKVAHDJ4MW8
De Minimis Rate Used: N
Rate Explanation: The County did not use the 10% de minimis cost rate for the current year.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where in certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Subrecipients
Accounting Policies: VLKVAHDJ4MW8
De Minimis Rate Used: N
Rate Explanation: The County did not use the 10% de minimis cost rate for the current year.
The County had subrecipient costs of $0.
Title: Indirect Cost Rate
Accounting Policies: VLKVAHDJ4MW8
De Minimis Rate Used: N
Rate Explanation: The County did not use the 10% de minimis cost rate for the current year.
The County elected not to use the 10% de minimis indirect cost rate allowed under Uniform
Guidance.