Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the modified accrual bases of accounting. Under the modified accrual basis of accounting, expenditures are recognized when the related fund liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The County elected not to utilize the 10% de minimis indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards is presented using the modified accrual bases of accounting. Under the modified accrual basis of accounting, expenditures are recognized when the related fund liability is incurred. Federal grant programs which are administered through State agencies (pass-through awards) have been included in this report. 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 and therefore, some amounts presented in this schedule may differ from amounts presented or used in the preparation of the financial statements. The County elected not to utilize the 10% de minimus indirect cost rate. The County had six subrecipients and expenditures for the year ended December 31, 2023 were as follows: Federal Grant: COVID-19: Coronavirus State and Local Fiscal Recover Funds; Federal Assistance Listing Number: 21.027; Contract or Project Number: GA-0013857; Amount: $1,444,485. The County has $354,818 of outstanding loans from the Clean Water State Revolving Fund (66.458) as of December 31, 2023.