Title: A
Accounting Policies: Expenditures reported on the schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in the uniform guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbrsement.
De Minimis Rate Used: N
Rate Explanation: The County has elected to not use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Lake County, Ohio (the County) under programs of the federal government for the year ended December 31, 2023. The information on this Schedule is prepared 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, it is not intended to and does not present the financial position, changes in net position, or cash flows of the County.
Title: B
Accounting Policies: Expenditures reported on the schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in the uniform guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbrsement.
De Minimis Rate Used: N
Rate Explanation: The County has elected to not use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
Title: C
Accounting Policies: Expenditures reported on the schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in the uniform guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbrsement.
De Minimis Rate Used: N
Rate Explanation: The County has elected to not use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The County has elected to not use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: D
Accounting Policies: Expenditures reported on the schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in the uniform guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbrsement.
De Minimis Rate Used: N
Rate Explanation: The County has elected to not use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The County passes certain federal awards received from U.S. Department of Housing and Urban Development, the U.S. Department of Education, and the U.S. Department of Health and Human Services to other governments or not-for-profit agencies (subrecipients). As Note B describes, the County reports expenditures of Federal awards to subrecipients when paid in cash.
As a pass-through entity, the County has certain compliance responsibilities, such as monitoring its subrecipients to help assure they use these subawards as authorized by laws, regulations, and the provisions of contracts or grant agreements, and that subrecipients achieve the award’s performance goals.
Title: E
Accounting Policies: Expenditures reported on the schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in the uniform guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbrsement.
De Minimis Rate Used: N
Rate Explanation: The County has elected to not use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The County commingles cash receipts from the U.S. Department of Agriculture with similar State grants. When reporting expenditures on this Schedule, the County assumes it expends federal monies first.
Title: F
Accounting Policies: Expenditures reported on the schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in the uniform guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbrsement.
De Minimis Rate Used: N
Rate Explanation: The County has elected to not use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The current cash balance on the County’s local program income account as of December 31, 2023 is
$1,180.
Title: G
Accounting Policies: Expenditures reported on the schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in the uniform guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbrsement.
De Minimis Rate Used: N
Rate Explanation: The County has elected to not use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Certain Federal programs require the County to contribute non-Federal funds (matching funds) to support the Federally-funded programs. The County has met its matching requirements. The Schedule does not include the expenditure of non-Federal matching funds.