Notes to SEFA
Title: NOTE 3: LOANS AND LOAN GUARANTEES
Accounting Policies: Basis of Presentation
The Schedule of Expenditures of Federal Awards is prepared using the modified accrual basis of accounting.
Measurement Focus
The determination of when an award is expended is based on when the activity related to the award occurs.
De Minimis Rate Used: N
Rate Explanation: The County did not elect to use the 10% de Minimis indirect cost rate.
The County did not have any loans or loan guarantee programs during the year.
Title: NOTE 4: NONCASH ASSISTANCE
Accounting Policies: Basis of Presentation
The Schedule of Expenditures of Federal Awards is prepared using the modified accrual basis of accounting.
Measurement Focus
The determination of when an award is expended is based on when the activity related to the award occurs.
De Minimis Rate Used: N
Rate Explanation: The County did not elect to use the 10% de Minimis indirect cost rate.
There were no federal awards expended in the form of noncash assistance during the year.