Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule are presented in conformity with accounting principles
generally accepted in the United States and the amounts presented are derived from the
County’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the 10% de minimis cost rate.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal
award activity of County of Schoharie, New York (County) 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, it is not intended to and does not present the financial position or the
respective changes in financial position of the governmental activities, each major fund, and the
aggregate remaining fund information of the County.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the schedule are presented in conformity with accounting principles
generally accepted in the United States and the amounts presented are derived from the
County’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the 10% de minimis cost rate.
Expenditures reported on the schedule are presented in conformity with accounting principles
generally accepted in the United States and the amounts presented are derived from the
County’s general ledger.
The County did not elect to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance
Title: PASS-THROUGH PROGRAMS
Accounting Policies: Expenditures reported on the schedule are presented in conformity with accounting principles
generally accepted in the United States and the amounts presented are derived from the
County’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the 10% de minimis cost rate.
Where the County receives funds from a government entity other than the federal government
(pass-through), the funds are accumulated based upon the Assistance Listing number advised
by the pass-through grantor.
Identifying numbers, other than the Assistance Listing numbers, which may be assigned by
pass-through grantors are not maintained in the County’s financial management system. The
County has identified certain pass-through identifying numbers and included them in the
Schedule, as available.
Title: INDIRECT COSTS
Accounting Policies: Expenditures reported on the schedule are presented in conformity with accounting principles
generally accepted in the United States and the amounts presented are derived from the
County’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the 10% de minimis cost rate.
Indirect costs are included in the reported expenditures to the extent such costs are included in
the federal financial reports used as the source for the data presented.
Title: MATCHING COSTS
Accounting Policies: Expenditures reported on the schedule are presented in conformity with accounting principles
generally accepted in the United States and the amounts presented are derived from the
County’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the 10% de minimis cost rate.
Matching costs, i.e., the County’s or State’s share of certain program costs, are not included in
the schedule of expenditures of federal awards.
Title: NONCASH AWARDS
Accounting Policies: Expenditures reported on the schedule are presented in conformity with accounting principles
generally accepted in the United States and the amounts presented are derived from the
County’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the 10% de minimis cost rate.
A significant portion of federal award programs do not involve cash awards to the County of
Schoharie, New York. The value of this noncash award has been recorded as expenditures on
the statement of expenditures of federal awards. Those relating to the County are as follows: