Notes to SEFA
Title: Basis of Accounting
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting which is described in Note 1C to the County’s basic financial statements. Expenditures are recognized following the applicable cost principles contained in either Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”) or the OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal financial assistance programs of Cherokee County, Georgia (the County). All federal financial assistance received directly from federal agencies as well as federal financial assistance passed through other government agencies is included on the schedule. The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting which is described in Note 1C to the County’s basic financial statements. Expenditures are recognized following the applicable cost principles contained in either Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”) or the OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, wherein certain types of expenditures are not allowable or are limited as to reimbursement. See also Note 3 regarding previously unreported Coronavirus State and Local Fiscal Recovery Funds.
Title: Indirect Cost Rates
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting which is described in Note 1C to the County’s basic financial statements. Expenditures are recognized following the applicable cost principles contained in either Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”) or the OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The County has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Coronavirus State and Local Fiscal Recovery Funds
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting which is described in Note 1C to the County’s basic financial statements. Expenditures are recognized following the applicable cost principles contained in either Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”) or the OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The County determined that the amount of Coronavirus State and Local Fiscal Recovery Funds reported on the Schedule of Expenditures of Federal Awards for the fiscal year ending September 30, 2021 did not include $1,744,818 of expenditures incurred during that fiscal year. These expenditures have therefore been included in the accompanying Schedule of Expenditures of Federal Awards. These expenditures and related compliance requirements were included in the testing procedures of this major program during the fiscal year ending September 30, 2023