Title: Reporting Entity
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The schedule of expenditures of federal awards (the Schedule) presents the activities of federal award programs expended by Olmsted County (the County). The County's financial statements include the operations of the Olmsted County Housing and Redevelopment Authority (the HRA), a blended component unit of the County, which expended $9,113,172 in federal awards during the year ended December 31, 2023. The HRA's federal awards are not included in the schedule of expenditures of federal awards, since the HRA has been audited by other auditors and those amounts are reported in a separate report. The County's reporting entity is defined in Note 1 to the financial statements.
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of the County 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 Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (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 net position or cash flows of the County.
Title: Reconciliation to Schedule of Intergovernmental Revenue
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Federal grant revenue per Schedule of Intergovernmental Revenue $ 40,621,348
Grants received more than 45 days after year-end, unavailable revenue in 2023:
High Intensity Drug Trafficking Areas Program 60,000
WIC Special Supplemental Nutrition Program for Women, Infants and Children 33,380
Temporary Assistance for Needy Families 564,514
Community-Based Child Abuse Prevention Grants 47,186
Fost Care Title IV-E 9,320
Medical Assistance Program 348,758
Highway Planning and Construction 640,270
Unavailable in 2022; recognized as revenue in 2023:
WIC Special Supplemental Nutrition Program for Women, Infants and Children (38,049)
State Administrative Matching Grants for the Supplemental Nutrition Assistance Program (5,451)
Activities to Support State, Tribal, Local and Territorial (STLT) Health Department Response to Public Health or Healthcare Crises (12,583)
Temporary Assistance for Needy Families (117,218)
Community-Based Child Abuse Prevention Grants (9,490)
Foster Care Title IV-E (592,360)
John H. Chafee Foster Care Program for Successful Transition to Adulthood (5,906)
Medical Assistance Program (595,796)
Emergency Management Performance Grants (77,203)
Continuum of Care Program (11,833)
Highway Planning and Construction (2,041,179)
The Olmsted County HRA component unit is not included in Olmsted County's Schedule of Expenditures of Federal Awards. That information is included in the separately issued financial statements of the HRA. (9,113,172)
Olmsted County HRA reconciling items between the Schedule of Expenditures of Federal Awards and the Schedule of Intergovernmental Revenue 1,327,245
Total $ 31,031,781