Notes to SEFA
Accounting Policies: Revenues and expenditures in the schedules are presented in accordance with the modified accrual basis of
accounting and are generally in agreement with revenues and expenditures reported in the County’s 2022
fund financial statements. Accrued revenue at year-end consists of federal and state program expenditures
scheduled for reimbursement to the County in the succeeding year while unearned revenue represents
advances for federal and state programs that exceed recorded County expenditures. Because of subsequent
program adjustments, these amounts may differ from the prior year’s ending balances. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance and State Single Audit guidelines,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: N/A