Notes to SEFA
Title: Significant Accounting Policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards present the activity of all federal financial assistance programs of the County of Perry. The schedule of expenditures of federal awards is presented using the modified accrual basis of accounting. 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The County has not elected to use the 10% de minimus indirect cost rate for its federal programs.
Basis of Accounting - The accompanying Schedule of Expenditures of Federal Awards present the activity of all federal financial assistance programs of the County of Perry. The schedule of expenditures of federal awards is presented using the modified accrual basis of accounting. 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Indirect Cost Rate - The County has not elected to use the 10% de minimus indirect cost rate for its federal programs.