Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
Cash receipts are shown on the Schedule on the cash basis of accounting as required by the Pennsylvania Department of Human Services and the Department of Community and Economic Development.
De Minimis Rate Used: Y
Rate Explanation: The County has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of the County of Venango, Pennsylvania (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 changes in net position of the County.
Component Unit
The County’s financial statements include the operations of the Venango Country Economic Development Authority (Authority), which expended $2,056,574, in federal awards, which are not included in the accompanying Schedule for the year ended December 31, 2023. This Schedule does not include the expenditures of the Authority because they completed a separate audit in accordance with the Uniform Guidance.
Title: Emergency Food Assistance Program
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
Cash receipts are shown on the Schedule on the cash basis of accounting as required by the Pennsylvania Department of Human Services and the Department of Community and Economic Development.
De Minimis Rate Used: Y
Rate Explanation: The County has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
In-kind values are reported in the Schedule at the fair value of the commodities received and disbursed.
Title: PCCD
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
Cash receipts are shown on the Schedule on the cash basis of accounting as required by the Pennsylvania Department of Human Services and the Department of Community and Economic Development.
De Minimis Rate Used: Y
Rate Explanation: The County has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Schedule reporting for the year ending December 31, 2020 reported expenditures incorrectly for the following Pennsylvania Commission on Crime and Delinquency (PCCD) grants: 33342 and 28781. The grant expenditures for PCCD should have been reported as follows:
Grant 33342 ALN 16.034 $56,593
Grant 28781 ALN 16.588 $97,090
The Schedule reporting for the year ending December 31, 2021 reported expenditures incorrectly for the following PCCD grants: 33342, 28781, and 34469. The grant expenditures for PCCD should have been reported as follows:
Grant 33342 ALN 16.034 $34,015
Grant 28781 ALN 16.588 $0
Grant 34469 ALN 16.588 $107,663
The Schedule reporting for the year ending December 31, 2022 reported expenditures incorrectly for the following PCCD grants: 33342, 34469, 35991, and 37881. The grant expenditures for PCCD should have been reported as follows:
Grant 33342 ALN 16.034 $0
Grant 34469 ALN 16.588 $2,578
Grant 35991 ALN 16.588 $109,318
Grant 37881 ALN 16.588 $0