Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The Schedule of Expenditures of Federal Awards (the Schedule) is presented using the modified accrual basis of accounting, which is described in Note 1 to the basic financial statements of Clackamas County, Oregon (the County). Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) wherein certain types of expenses are not allowable or are limited as to reimbursement. The Pass through entity identifying numbers are presented where applicable.
De Minimis Rate Used: N
Rate Explanation: During the fiscal year ended, June 30, 2023, the County did not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards (the Schedule) is presented using the modified accrual basis of accounting, which is described in Note 1 to the basic financial statements of Clackamas County, Oregon (the County). Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) wherein certain types of expenses are not allowable or are limited as to reimbursement. The pass-through entity identifying numbers are presented where applicable.
Title: ELECTION OF DE MINIMIS INDIRECT COST RATE
Accounting Policies: The Schedule of Expenditures of Federal Awards (the Schedule) is presented using the modified accrual basis of accounting, which is described in Note 1 to the basic financial statements of Clackamas County, Oregon (the County). Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) wherein certain types of expenses are not allowable or are limited as to reimbursement. The Pass through entity identifying numbers are presented where applicable.
De Minimis Rate Used: N
Rate Explanation: During the fiscal year ended, June 30, 2023, the County did not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
During the fiscal year ended, June 30, 2023, the County did not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: BASIS OF PRESENTATION
Accounting Policies: The Schedule of Expenditures of Federal Awards (the Schedule) is presented using the modified accrual basis of accounting, which is described in Note 1 to the basic financial statements of Clackamas County, Oregon (the County). Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) wherein certain types of expenses are not allowable or are limited as to reimbursement. The Pass through entity identifying numbers are presented where applicable.
De Minimis Rate Used: N
Rate Explanation: During the fiscal year ended, June 30, 2023, the County did not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Schedule presents the activity of all federally-funded programs of the County, except for the Housing Authority of Clackamas County (HACC) and the Workforce Investment Council of Clackamas County, Inc. (dba Clackamas Workforce Partnership), which issue separate reports. The reporting entity is defined in Note 1 to the County's basic financial statements. The information in the Schedule is presented in accordance with the requirements of the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the County, it is not intended to and does not present the financial position, changes in financial position, or the cash flows of the County.
Title: REVOLVING LOAN PROGRAMS
Accounting Policies: The Schedule of Expenditures of Federal Awards (the Schedule) is presented using the modified accrual basis of accounting, which is described in Note 1 to the basic financial statements of Clackamas County, Oregon (the County). Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) wherein certain types of expenses are not allowable or are limited as to reimbursement. The Pass through entity identifying numbers are presented where applicable.
De Minimis Rate Used: N
Rate Explanation: During the fiscal year ended, June 30, 2023, the County did not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The County makes loans to developers for the construction of low-income housing units. The seed money for these loans used to establish the program initially was provided through Federal funds under the Rural Development Multi-Family Housing Revitalization Demonstration Program (ALN #10.447), Community Development Block Grants/Entitlement Grants (ALN #14.218), HOME Investment Partnerships Program (ALN #14.239), and Neighborhood Stabilization Program (ALN #14.256). The County's responsibility over these loans is to ensure that a specified percentage of the total rental units are rented to low-income individuals, and the ongoind compliance requirements related to the accumulated loan balances. The outstanding loan balances as of June 30, 2023, consists of:
See the Notes to the SEFA for chart/table.