Title: Note 1 – Basis of Accounting
Accounting Policies: This schedule is prepared on the same basis of accounting as the County’s financial statements.
The County uses the cash basis of accounting.
The amounts shown as current year expenditures represent only the federal grant portion of the
program costs. Entire program costs, including the County’s portion, may be more than shown.
Such expenditures are recognized following, as applicable, either the cost principles in OMB
Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cost
principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration
Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types
of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The County has elected to use the 10% de minimis indirect cost rate under the Uniform Guidance.
This schedule is prepared on the same basis of accounting as the County’s financial statements.
The County uses the cash basis of accounting.
The amounts shown as current year expenditures represent only the federal grant portion of the
program costs. Entire program costs, including the County’s portion, may be more than shown.
Such expenditures are recognized following, as applicable, either the cost principles in OMB
Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cost
principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration
Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types
of expenditures are not allowable or are limited as to reimbursement.
Title: Note 2 – Federal De Minimis Indirect Cost Rate
Accounting Policies: This schedule is prepared on the same basis of accounting as the County’s financial statements.
The County uses the cash basis of accounting.
The amounts shown as current year expenditures represent only the federal grant portion of the
program costs. Entire program costs, including the County’s portion, may be more than shown.
Such expenditures are recognized following, as applicable, either the cost principles in OMB
Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cost
principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration
Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types
of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The County has elected to use the 10% de minimis indirect cost rate under the Uniform Guidance.
The County has elected to use the 10% de minimis indirect cost rate under the Uniform Guidance.
Title: Note 3 – Continuing Compliance Requirements for 10.766
Accounting Policies: This schedule is prepared on the same basis of accounting as the County’s financial statements.
The County uses the cash basis of accounting.
The amounts shown as current year expenditures represent only the federal grant portion of the
program costs. Entire program costs, including the County’s portion, may be more than shown.
Such expenditures are recognized following, as applicable, either the cost principles in OMB
Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cost
principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration
Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types
of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The County has elected to use the 10% de minimis indirect cost rate under the Uniform Guidance.
In 2017 the County was approved by the USDA to receive a Community Facilities Loan in the
amount of $1,400,000 to construct a new pavilion roof and HVAC system at the County
Fairgrounds. The balance owing at the end of December 31, 2023, is $1,148,979.