Notes to SEFA
Title: NOTE 3: LOANS AND LOAN GUARANTEES
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards includes the federal spending of Colquitt County, Georgia (the County) and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the County, it is not intended to and does not represent the financial position of the County.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10% de Minimis indirect cost rate.
The County did not expend federal awards related to loans or loan guarantees during the year ended June 30, 2023 and did not have any federal loans or loan guarantees outstanding during the year ended June 30, 2023.
Title: NOTE 4: NONCASH ASSISTANCE
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards includes the federal spending of Colquitt County, Georgia (the County) and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the County, it is not intended to and does not represent the financial position of the County.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10% de Minimis indirect cost rate.
There were no federal awards expended in the form of noncash assistance during the year.