Audit 305211

Accounting Policies: A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES General The accompanying Schedules of Expenditures of Federal Awards presents the activity of all federal award programs of Fannin County, Texas (the "County"). Basis of Accounting The accompanying Schedules of Expenditures of Federal Awards are presented using the modified accrual basis of accounting for governmental funds. B - CONTINGENCIES The County participates in several federal grant programs, which are governed by various rules and regulations of the grantor agencies. Costs charged to the respective grant programs are subject to audit and adjustment by the grantor agencies; therefore, to the extent that the County has not complied with the rules and regulations governing the grants, refunds of any money received may be required and the collectability of any related receivable at September 30, 2023 may be impaired. In the opinion of management, there are no significant contingent liabilities relating to compliance with the rules and regulations governing the respective grants. De Minimis Rate Used: N Rate Explanation: NA