Notes to SEFA
Accounting Policies: Expenditures in the schedules are presented in accordance with the modified accrual basis of accounting and
are generally in agreement with expenditures reported in the County’s 2023 fund financial statements.
Accounts receivable at year-end consists of federal and state program expenditures scheduled for
reimbursement to the County in the succeeding year while unearned revenue represents advances for federal
and state programs that exceed recorded County expenditures. Because of subsequent program
adjustments, these amounts may differ from the prior year’s ending balances. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance and State Single Audit Guidelines,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: N/A