Title: Note 1 - General
Accounting Policies: The accounting policies and presentation of the accompanying schedule of expenditures of federal awards and state financial assistance of DeSoto County, Florida (the County) have been designed to conform with
generally accepted accounting principles applicable to governmental units, including the reporting and compliance requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) (federal awards); and Chapter 10.550, Rules of the Auditor General of the State of Florida.
The County reporting entity is defined in Note 1 to the County’s financial statements for the year ended September 30, 2023. All federal awards and state financial assistance received directly from federal or state agencies, as well as federal awards and state financial assistance passed through other governmental agencies, are included in the schedule.
De Minimis Rate Used: N
Rate Explanation: DeSoto County Board of County Commissioners did not elect to use the 10% de minimis cost rate in 2023 as covered in 2 CFR 200.414.
The accounting policies and presentation of the accompanying schedule of expenditures of federal awards and state financial assistance of DeSoto County, Florida (the County) have been designed to conform with generally accepted accounting principles applicable to governmental units, including the reporting and
compliance requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) (federal awards); and Chapter 10.550, Rules of the Auditor General of the State of Florida.
The County reporting entity is defined in Note 1 to the County’s financial statements for the year ended September 30, 2023. All federal awards and state financial assistance received directly from federal or state agencies, as well as federal awards and state financial assistance passed through other governmental
agencies, are included in the schedule.
Title: Note 2 - Basis of Accounting
Accounting Policies: The accounting policies and presentation of the accompanying schedule of expenditures of federal awards and state financial assistance of DeSoto County, Florida (the County) have been designed to conform with
generally accepted accounting principles applicable to governmental units, including the reporting and compliance requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) (federal awards); and Chapter 10.550, Rules of the Auditor General of the State of Florida.
The County reporting entity is defined in Note 1 to the County’s financial statements for the year ended September 30, 2023. All federal awards and state financial assistance received directly from federal or state agencies, as well as federal awards and state financial assistance passed through other governmental agencies, are included in the schedule.
De Minimis Rate Used: N
Rate Explanation: DeSoto County Board of County Commissioners did not elect to use the 10% de minimis cost rate in 2023 as covered in 2 CFR 200.414.
The accompanying schedule of expenditures of federal awards and state financial assistance is presented using the same basis of accounting as the fund in which the grant is recorded, generally the accrual or modified accrual basis, as described in Note 1 C to the County’s financial statements.
Title: Note 3 - Contingencies
Accounting Policies: The accounting policies and presentation of the accompanying schedule of expenditures of federal awards and state financial assistance of DeSoto County, Florida (the County) have been designed to conform with
generally accepted accounting principles applicable to governmental units, including the reporting and compliance requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) (federal awards); and Chapter 10.550, Rules of the Auditor General of the State of Florida.
The County reporting entity is defined in Note 1 to the County’s financial statements for the year ended September 30, 2023. All federal awards and state financial assistance received directly from federal or state agencies, as well as federal awards and state financial assistance passed through other governmental agencies, are included in the schedule.
De Minimis Rate Used: N
Rate Explanation: DeSoto County Board of County Commissioners did not elect to use the 10% de minimis cost rate in 2023 as covered in 2 CFR 200.414.
Grant monies received and disbursed by the County are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to the disallowance of expenditures. Based upon prior experience, the County does not believe that such disallowances, if any, would have a material effect on the financial position of the County.
Title: Note 4 - Expenditures and Program Income
Accounting Policies: The accounting policies and presentation of the accompanying schedule of expenditures of federal awards and state financial assistance of DeSoto County, Florida (the County) have been designed to conform with
generally accepted accounting principles applicable to governmental units, including the reporting and compliance requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) (federal awards); and Chapter 10.550, Rules of the Auditor General of the State of Florida.
The County reporting entity is defined in Note 1 to the County’s financial statements for the year ended September 30, 2023. All federal awards and state financial assistance received directly from federal or state agencies, as well as federal awards and state financial assistance passed through other governmental agencies, are included in the schedule.
De Minimis Rate Used: N
Rate Explanation: DeSoto County Board of County Commissioners did not elect to use the 10% de minimis cost rate in 2023 as covered in 2 CFR 200.414.
The amounts shown as current year expenditures on the accompanying schedule represent only the grant portion of the program/project costs. The total expenditures of the program/project may be more than shown. Program income generated by and expended on a federal or state award during the period of erformance is included on this schedule if the program income is added to the award amount or if pecifically directed by the awarding agency and/or required by program guidance. Program income that educes the total allowable expenditures (deduction method) is not included
Title: Note 5 - Indirect Costs
Accounting Policies: The accounting policies and presentation of the accompanying schedule of expenditures of federal awards and state financial assistance of DeSoto County, Florida (the County) have been designed to conform with
generally accepted accounting principles applicable to governmental units, including the reporting and compliance requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) (federal awards); and Chapter 10.550, Rules of the Auditor General of the State of Florida.
The County reporting entity is defined in Note 1 to the County’s financial statements for the year ended September 30, 2023. All federal awards and state financial assistance received directly from federal or state agencies, as well as federal awards and state financial assistance passed through other governmental agencies, are included in the schedule.
De Minimis Rate Used: N
Rate Explanation: DeSoto County Board of County Commissioners did not elect to use the 10% de minimis cost rate in 2023 as covered in 2 CFR 200.414.
DeSoto County Board of County Commissioners did not elect to use the 10% de minimis cost rate in 2023 as covered in 2 CFR 200.414.
Title: Note 6 - Disaster Public Assistance
Accounting Policies: The accounting policies and presentation of the accompanying schedule of expenditures of federal awards and state financial assistance of DeSoto County, Florida (the County) have been designed to conform with
generally accepted accounting principles applicable to governmental units, including the reporting and compliance requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) (federal awards); and Chapter 10.550, Rules of the Auditor General of the State of Florida.
The County reporting entity is defined in Note 1 to the County’s financial statements for the year ended September 30, 2023. All federal awards and state financial assistance received directly from federal or state agencies, as well as federal awards and state financial assistance passed through other governmental agencies, are included in the schedule.
De Minimis Rate Used: N
Rate Explanation: DeSoto County Board of County Commissioners did not elect to use the 10% de minimis cost rate in 2023 as covered in 2 CFR 200.414.
Disaster funding received from the FEMA Public Assistance Program (AL 97.036) is based on Project Worksheets (PWs) that outline the eligible expenses and the scope of the project. Expenditures recorded on this Schedule are contingent on when funds are obligated and approved, and the County has incurred eligible expenditures. $11,412,647 of eligible expenditures incurred in prior years is reported on the Schedule this year.