Notes to SEFA
Title: Note 1- Basis of Presentation
Accounting Policies: Expenditures reported o nthe 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 ar enot allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Commission has elected not to use the 10-percent deminimis indirect cost rate as allowed in the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of the Marshall County Commission (the "Commission") under programs of the federal government for the year ended September 30, 2023. The information in this Schedule is presented in accordance with the requirement of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirments, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Commission, it is not intended to and does not present the financial postition or changes in net position on the Commission.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported o nthe 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 ar enot allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Commission has elected not to use the 10-percent deminimis indirect cost rate as allowed in the Uniform Guidance.
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.
Title: Note 3 - Indirect Cost Rate
Accounting Policies: Expenditures reported o nthe 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 ar enot allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Commission has elected not to use the 10-percent deminimis indirect cost rate as allowed in the Uniform Guidance.
The Commission has elected not to use the 10-percent de minimis indirect cost rate as allowed in the Uniform Guidance.