Title: BASIS OF PRESENTATION
Accounting Policies: Federal awards are accounted for using the modified cash basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United State of America. The Schedule reflects the modified cash basis of accounting in which revenues and expenditures are recognized when received or checks are issued.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance requires that all indirect costs be charged through the use of an approved indirect cost rate. When no indirect cost rate has been approved, the Uniform Guidance allows for a one-time election to use a 10% de minimis reimbursement rate. The County has elected to use the 10% de minimis indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) summarizes the expenditures of Macoupin County, Illinois under programs of the federal government for the fiscal year ended August 31, 2023. Because the Schedule presents only a selected portion of the operations of Macoupin County, Illinois, it is not intended to, and does not, present the financial position, changes in net position, revenues, and expenditures of Macoupin County, Illinois.
For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between the County and agencies and departments of the federal government and all sub-awards to the County by nonfederal organizations pursuant to federal grants, contracts, and similar agreements. The Schedule presents expenditures by federal agency for the County’s major and nonmajor programs in accordance with the provisions of the U.S. Office of Management and Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Title: SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Federal awards are accounted for using the modified cash basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United State of America. The Schedule reflects the modified cash basis of accounting in which revenues and expenditures are recognized when received or checks are issued.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance requires that all indirect costs be charged through the use of an approved indirect cost rate. When no indirect cost rate has been approved, the Uniform Guidance allows for a one-time election to use a 10% de minimis reimbursement rate. The County has elected to use the 10% de minimis indirect cost rate.
Federal awards are accounted for using the modified cash basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United State of America. The Schedule reflects the modified cash basis of accounting in which revenues and expenditures are recognized when received or checks are issued.
Title: SUBRECIPIENTS
Accounting Policies: Federal awards are accounted for using the modified cash basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United State of America. The Schedule reflects the modified cash basis of accounting in which revenues and expenditures are recognized when received or checks are issued.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance requires that all indirect costs be charged through the use of an approved indirect cost rate. When no indirect cost rate has been approved, the Uniform Guidance allows for a one-time election to use a 10% de minimis reimbursement rate. The County has elected to use the 10% de minimis indirect cost rate.
The County passed through federal funds to subrecipients during the year ended August 31, 2023 as follows: Program Title- Section 5311 Grant 2023, Subrecipient-Macoupin County Health Department, ALN-20.509, and Amount-$135,211
Title: NONMONETARY DISTRIBUTIONS
Accounting Policies: Federal awards are accounted for using the modified cash basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United State of America. The Schedule reflects the modified cash basis of accounting in which revenues and expenditures are recognized when received or checks are issued.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance requires that all indirect costs be charged through the use of an approved indirect cost rate. When no indirect cost rate has been approved, the Uniform Guidance allows for a one-time election to use a 10% de minimis reimbursement rate. The County has elected to use the 10% de minimis indirect cost rate.
None.
Title: INSURANCE
Accounting Policies: Federal awards are accounted for using the modified cash basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United State of America. The Schedule reflects the modified cash basis of accounting in which revenues and expenditures are recognized when received or checks are issued.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance requires that all indirect costs be charged through the use of an approved indirect cost rate. When no indirect cost rate has been approved, the Uniform Guidance allows for a one-time election to use a 10% de minimis reimbursement rate. The County has elected to use the 10% de minimis indirect cost rate.
The County had no insurance as it relates to federal programs in effect for the year ended August 31, 2023.
Title: LOANS AND LOAN GUARANTEES
Accounting Policies: Federal awards are accounted for using the modified cash basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United State of America. The Schedule reflects the modified cash basis of accounting in which revenues and expenditures are recognized when received or checks are issued.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance requires that all indirect costs be charged through the use of an approved indirect cost rate. When no indirect cost rate has been approved, the Uniform Guidance allows for a one-time election to use a 10% de minimis reimbursement rate. The County has elected to use the 10% de minimis indirect cost rate.
The County had no outstanding loans or loan guarantees from federal sources as of August 31, 2023.
Title: INDIRECT COST REIMBURSEMENTS
Accounting Policies: Federal awards are accounted for using the modified cash basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United State of America. The Schedule reflects the modified cash basis of accounting in which revenues and expenditures are recognized when received or checks are issued.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance requires that all indirect costs be charged through the use of an approved indirect cost rate. When no indirect cost rate has been approved, the Uniform Guidance allows for a one-time election to use a 10% de minimis reimbursement rate. The County has elected to use the 10% de minimis indirect cost rate.
The Uniform Guidance requires that all indirect costs be charged through the use of an approved indirect cost rate. When no indirect cost rate has been approved, the Uniform Guidance allows for a one-time election to use a 10% de minimis reimbursement rate. The County has elected to use the 10% de minimis indirect cost rate.
Title: LOW RISK AUDITEE
Accounting Policies: Federal awards are accounted for using the modified cash basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United State of America. The Schedule reflects the modified cash basis of accounting in which revenues and expenditures are recognized when received or checks are issued.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance requires that all indirect costs be charged through the use of an approved indirect cost rate. When no indirect cost rate has been approved, the Uniform Guidance allows for a one-time election to use a 10% de minimis reimbursement rate. The County has elected to use the 10% de minimis indirect cost rate.
The County did not qualify as a low-risk auditee under section .530.