Title: Reporting Entity
Accounting Policies: The significant accounting policies used in preparing the SEFA follow the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Not applicable
The accompanying schedule of expenditures of federal awards (the schedule) presents the activity of all federal financial assistance programs of the County of Del Norte (the County). The County's reporting entity is defined in Note 1 to the County's basic financial statements. All federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included in the schedule.
Title: Basis of Accounting
Accounting Policies: The significant accounting policies used in preparing the SEFA follow the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Not applicable
Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements, regardless of the measurement focus applied. The schedule, is presented using the modified accrual basis of accounting for grants accounted for in the governmental fund types and the accrual basis of accounting for grants accounted for in the proprietary fund types, as described in the notes to the County's financial statements. In addition, the oustanding balance of prior year's loans that have significant continuing compliance requirements have been included in total federal expenditures.
Title: Relationship to Federal Financial Reports
Accounting Policies: The significant accounting policies used in preparing the SEFA follow the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Not applicable
The amounts reported in the Schedule agree or can be reconciled with amounts reported in the related federal financial assistance reports.
Title: Relationship to Basic Financial Statements
Accounting Policies: The significant accounting policies used in preparing the SEFA follow the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Not applicable
The amounts reported in the Schedule agree or can be reconciled with amounts reported in the County's basic financial statements.
Title: Pass-Through Entities' Identifying Numbers
Accounting Policies: The significant accounting policies used in preparing the SEFA follow the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Not applicable
When federal awards were received from a pass-through entity, the Schedule shows, if applicable, the identifying number assigned by the pass-through entity. When no identifying number is shown, the County determined that no identifying number is assigned for the program or the County was unable to obtain an identifying number from the pass-through entity.
Title: Program Clusters
Accounting Policies: The significant accounting policies used in preparing the SEFA follow the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Not applicable
Federal programs, which must be audited together as a program cluster, include the following. See the Notes to the SEFA for chart/table.
Title: Loans with Continuing Compliance Requirements
Accounting Policies: The significant accounting policies used in preparing the SEFA follow the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Not applicable
The County participates in certain federal award programs that sponsor revolving loan programs, which are administered by the County. These programs require servicing arrangements with the County. The funds are returned to the programs upon repayment of the principal and interest. In accordance with 2 CFR 200.502 Basis for determining Federal awards expended, the County has reported the oustanding balances of loans from previous years that have significant continung compliance requirements as of June 30, 2023, along with the value of total outstanding and new loans made during the current year. The programs listed below had the following aggregate, federally funded loans outstanding at June 30, 2023. See the Notes to the SEFA for chart/table.
Title: Indirect Cost Rate
Accounting Policies: The significant accounting policies used in preparing the SEFA follow the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Not applicable
The County has elected not to use the 10% de minimis indirect cost rate.