Notes to SEFA
Title: Basis of Presentation
Accounting Policies: (1) Basis of Presentation - See Form for Detail, (2) Summary of Significant Accounting Policies - See Form For Detail.
De Minimis Rate Used: N
Rate Explanation: See notes to the SEFA in the financial statements.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Montgomery County, Georgia under programs of the federal government for the year ended December 31, 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 Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Montgomery County, Georgia, it is not intended to and does not present the financial position, changes in net position, or cash flows of Montgomery County, Georgia.
Title: Summary of Significant Accounting Policies
Accounting Policies: (1) Basis of Presentation - See Form for Detail, (2) Summary of Significant Accounting Policies - See Form For Detail.
De Minimis Rate Used: N
Rate Explanation: See notes to the SEFA in the financial statements.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: Indirect Cost Rate
Accounting Policies: (1) Basis of Presentation - See Form for Detail, (2) Summary of Significant Accounting Policies - See Form For Detail.
De Minimis Rate Used: N
Rate Explanation: See notes to the SEFA in the financial statements.
Montgomery County, Georgia has elected not to use the 10 - percent de minimis indirect cost rate allowed under the Uniform Guidance.