Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund Types are accounted for using a current financial resources measurement focus. All federal expenditures were accounted for in the General Fund and Special Revenue Funds, components of the Governmental Fund Type. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Federal grants are considered to be earned to the extent of expenditures made under the provisions of the grant, and, accordingly, when such funds are received, they are recorded as deferred revenues until earned. The period of availability for federal grant funds for the purpose of outstanding obliations made on or before the ending date of the federal project period extended 30 days beyond the federal project period ending date, in accordnace with provisions in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Bandera County, Texas has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards ("the Schedule") includes the federal award activity of Bandera County, Texas under progrrams of the federal governmental for the year ended September 30, 2023. The information in the schedule 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"). Federal and State financial assistance was accounted for in the Governmental Fund types.