Audit 321610

Accounting Policies: 1. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the County of Herkimer, New York, an entity as defined in Note 1 to the County’s financial statements, under programs of the federal government for the year ended December 31, 2023. Federal awards are received directly or indirectly from the Department of Agriculture, Housing and Urban Development, Justice, Labor, Transportation, Treasury, Education, Election Assistance Commission, Health and Human Services, Social Security Administration, and Homeland Security. 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 Herkimer, New York, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the County of Herkimer, New York. Summary of Significant Accounting Policies 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. The amounts reported as federal expenditures were obtained from the financial records detail, which is the source of the financial statements. New York State Child Care and Development Block Grant The amount reported under this grant includes Federal and New York State monies. New York State does not provide a breakdown to the County. De Minimis Indirect Cost Rate The County of Herkimer, New York has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Donated Personal Protective Equipment (Unaudited) During the emergency period of COVID-19, federal agencies and recipients of federal assistance funds donated personal protective equipment (PPE) to non-federal entities. In connection with that donation, the recipient must disclose the estimated value of donated PPE, but such amounts are not included in the Schedule of Expenditures of Federal Awards. The County did receive donated PPE during the reporting year in the amount of $77,757. De Minimis Rate Used: N Rate Explanation: De Minimis Indirect Cost Rate The County of Herkimer, New York has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.