Title: Basis of Presentation
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The County chooses the cost allocation plan
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the County of Alcona, Michigan 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 of Alcona, Michigan, it is not intended to and does not present the financial position, changes in net position, or cash flows of the County of Alcona, Michigan.
Title: Summary of Significant Accounting Policies
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The County chooses the cost allocation plan
Expenditures reported on the Schedule are reported on the 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: Cognizan Agency
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The County chooses the cost allocation plan
The County has not been assigned a cognizant agency. Therefore, the County is under the general oversight of the U.S. Department of Treasury which provided the greatest amount of direct federal funding to the County during 2023.
Title: Indirect Cost
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The County chooses the cost allocation plan
For purposes of charging indirect costs to federal awards, the County has elected not to use the 10% deminimus cost rate as permitted by CFR Section 200.414 of the Uniform Guidance.
Title: MDOT Administration
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The County chooses the cost allocation plan
The Michigan Department of Transportation (MDOT) requires that all road commissions report all federal and state grants pertaining to their county. During the year ended December 31, 2023, the federal aid received and expended by the Road Commission was $988,309 for contracted projects. Contracted projects are defined as projects performed by private contractors paid for and administrated by MDOT (included in MDOT’s single audit). Local federal force account projects are projects where the road commission performs the work and would be subject to single audit requirements if they expended $750,000 or more in federal funds, amounted to $0.
Title: Reconciliation to the Statement of Revenu, Expenditures and Changes in Fund Balance
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The County chooses the cost allocation plan
The following is a reconciliation of the amounts reported on the basic financial statements to the Schedule of Expenditures of Federal Awards: Total Federal Sources per Financial Statemetns - Primary Government $1,306,289. Total federal Revenue Recognized per Schedule of Expenditures of Federal Awards $1,306,289.
Title: Subrecpients
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The County chooses the cost allocation plan
There were no awards passed through to subrecipients.