Notes to SEFA
Title: Note 3 – Noncash Awards – Equipment
Accounting Policies: Note 1 - This Schedule is prepared on the same basis of accounting as the Pierce County financial statements. The County uses the modified accrual basis for its governmental fund types and the accrual basis of accounting for the proprietary and fiduciary fund types.
De Minimis Rate Used: N
Rate Explanation: Note 2 - The County has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The amount expended includes $ 7,210,400 claimed as an indirect cost recovery using an approved indirect cost rate based on the grant.
The County received equipment and supplies that were purchased with federal Homeland Security funds by the state of Washington. The amount reported on the Schedule is the value of the property on the date it was received by the County and priced by the state of Washington.
Title: Note 4 – Program Costs
Accounting Policies: Note 1 - This Schedule is prepared on the same basis of accounting as the Pierce County financial statements. The County uses the modified accrual basis for its governmental fund types and the accrual basis of accounting for the proprietary and fiduciary fund types.
De Minimis Rate Used: N
Rate Explanation: Note 2 - The County has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The amount expended includes $ 7,210,400 claimed as an indirect cost recovery using an approved indirect cost rate based on the grant.
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, are more than shown. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.