Title: DEFERRED REPORTING OF FEMA EXPENDITURES
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance (Schedule) includes the federal award and state financial assistance activity of the County of Volusia, Florida, under programs of the federal and state governments for the year ended September 30, 2023. The information in this 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) and Section 215.97, Florida Statutes. Because the Schedule presents only a selected portion of the operations of the County of Volusia, Florida, it is not intended to and does not present the financial position, changes in net position, or cash flows of the County of Volusia, Florida.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, or the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Program income generated by assistance programs is recognized as an expenditure of financial assistance in the year it is used to offset qualifying program expenditures.
Pass-through entity identifying numbers are presented where available. Amounts passed through by the County to its sub recipients during the fiscal year ended September 30, 2023, are reported on the Schedule in a separate column.
De Minimis Rate Used: N
Rate Explanation: The County of Volusia, Florida, has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The County has incurred substantial costs related to multiple open federally declared disasters. Per the Office of Management and Budget (OMB) Compliance Supplement, any reimbursements from the Federal Emergency Management Agency (FEMA) under CFDA 97.036 are not to be recognized as expenditures for purposes of the Schedule until the respective Project Worksheets (PW) have been obligated. As of September 30, 2023, some of the County’s PWs from these federally declared disasters had not yet been obligated by FEMA. Other reimbursable costs require amendment to some of the County’s PWs that have not yet been approved and are therefore not reportable on the Schedule.
The County entered into a single grant agreement with the Florida Division of Emergency Management (FDEM) applicable to all PWs for Hurricane Matthew. The existence of this agreement allows the County to accrue revenue for financial statement purposes for all expenditures incurred related to Hurricane Matthew. Combined total FEMA revenues (not including state matching) of $18,383,156 have been recorded on the financial statements in all fiscal years to date. Amounts totaling $17,949,287 have been recorded on the Schedule to date. A cumulative difference of $433,869 exists between revenue recognized for financial statement purposes and revenue reported on the Schedule. This amount will be recognized on the Schedule in the fiscal year in which the PW is obligated, or the PW amendment is approved.
For Hurricane Irma, FDEM changed its disaster assistance agreement process and all PWs were initially contracted for individually, after each PW was approved by FEMA. This methodology was changed during the fiscal year ended September 30, 2019, with one final contract amendment entered into to capture all remaining expenditures. Consequently, this amendment allows the County to accrue revenue for financial statement purposes for all expenditures incurred related to Hurricane Irma. Combined total FEMA revenues (not including state matching) of $18,357,626 have been recorded on the financial statements in all fiscal years to date. Amounts totaling $17,924,112 have been recorded on the Schedule to date. A cumulative difference of $433,514 exists between revenue recognized for financial statement purposes and revenue reported on the Schedule. This amount will be recognized on the Schedule in the fiscal year in which the PW is obligated, or the PW amendment is approved.
The County entered into a single grant agreement with FDEM applicable to all PWs for Hurricane Dorian. The existence of this agreement allows the County to accrue revenue for financial statement purposes for all expenditures incurred related to Hurricane Dorian. Combined total FEMA revenues (not including state matching) of $625,518 have been recorded on the financial statements in all fiscal years to date. Amounts totaling $625,518 have been recorded on the Schedule to date.
The County entered into a single grant agreement with FDEM applicable to all PWs for COVID-19 pandemic FEMA public assistance. The existence of this agreement allows the County to accrue revenue for financial statement purposes for all expenditures incurred related to COVID-19. There is no state share with this agreement, FEMA will reimburse 100 percent. Combined total FEMA revenues of $3,675,723 have been recorded on the financial statements in all fiscal years to date. Amounts totaling $3,556,700 have been recorded on the Schedule to date. A cumulative difference of $119,023 exists between revenue recognized for financial statement purposes and revenue reported on the Schedule. This amount will be recognized on the Schedule in the fiscal year in which the PW is obligated, or the PW amendment is approved.
The County entered into a single grant agreement with FDEM applicable to all PWs for Hurricane Ian. The existence of this agreement allows the County to accrue revenue for financial statement purposes for all expenditures incurred related to Hurricane Ian. Combined total FEMA revenues (not including state matching) of $11,701,831 have been recorded on the financial statements in all fiscal years to date. Amounts totaling $3,723,402 have been recorded on the Schedule to date. A cumulative difference of $7,978,429 exists between revenue recognized for financial statement purposes and revenue reported on the Schedule. This amount will be recognized on the Schedule in the fiscal year in which the PW is obligated, or the PW amendment is approved.
The County entered into a single grant agreement with FDEM applicable to all PWs for Hurricane Nicole. The existence of this agreement allows the County to accrue revenue for financial statement purposes for all expenditures incurred related to Hurricane Nicole. Combined total FEMA revenues (not including state matching) of $1,613,698 have been recorded on the financial statements in all fiscal years to date. No amounts have been recorded on the Schedule to date. A cumulative difference of $1,613,698 exists between revenue recognized for financial statement purposes and revenue reported on the Schedule. This amount will be recognized on the Schedule in the fiscal year in which the PW is obligated, or the PW amendment is approved.
The County entered into a single grant agreement with FDEM applicable to all PWs for Tropical Storm Idalia. The existence of this agreement allows the County to accrue revenue for financial statement purposes for all expenditures incurred related to Tropical Storm Idalia. Combined total FEMA revenues (not including state matching) of $22,442 have been recorded on the financial statements in all fiscal years to date. No amounts have been recorded on the Schedule to date. A cumulative difference of $22,442 exists between revenue recognized for financial statement purposes and revenue reported on the Schedule. This amount will be recognized on the Schedule in the fiscal year in which the PW is obligated, or the PW amendment is approved.
Title: FEDERAL LOAN PROGRAMS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance (Schedule) includes the federal award and state financial assistance activity of the County of Volusia, Florida, under programs of the federal and state governments for the year ended September 30, 2023. The information in this 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) and Section 215.97, Florida Statutes. Because the Schedule presents only a selected portion of the operations of the County of Volusia, Florida, it is not intended to and does not present the financial position, changes in net position, or cash flows of the County of Volusia, Florida.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, or the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Program income generated by assistance programs is recognized as an expenditure of financial assistance in the year it is used to offset qualifying program expenditures.
Pass-through entity identifying numbers are presented where available. Amounts passed through by the County to its sub recipients during the fiscal year ended September 30, 2023, are reported on the Schedule in a separate column.
De Minimis Rate Used: N
Rate Explanation: The County of Volusia, Florida, has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
On June 22, 2021, the County approved entering into an agreement with the State of Florida Department of Transportation to borrow up to $11,239,566 for the design and construction of Sun Rail Phase II North. The funding will come from the department’s federal funded state infrastructure bank, under ALN 20.507. Draws totaling $5,707,611 have been recorded on the financial statements in all fiscal years to date and the County has a total outstanding loan amount of $5,707,611 as of September 30, 2023.