Notes to SEFA
Title: Reporting Entity
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, as applicable, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The County does not maintain a cost allocation plan for allocation of common and indirect costs related to grant programs and has not elected to use the 10% de minimis cost rate as allowed by Uniform Guidance; accordingly, no indirect costs have been allocated to the grant programs included in the schedule of expenditures of federal awards.
Union County, Arkansas (the “County”) is a governmental entity established by laws of the State of Arkansas and has the powers of a body corporate, as defined in the statutes. All significant operations of the County are included in the scope of the Office of Management and Budget (“OMB”) requirements contained in 2 CFR Part 200, Subpart F (“Single Audit”). No federal entity has been designated as the County’s cognizant agency for the Single Audit. The reporting entity for the County is based upon criteria established by the Governmental Accounting Standards Board.
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, as applicable, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The County does not maintain a cost allocation plan for allocation of common and indirect costs related to grant programs and has not elected to use the 10% de minimis cost rate as allowed by Uniform Guidance; accordingly, no indirect costs have been allocated to the grant programs included in the schedule of expenditures of federal awards.
The accompanying schedule of expenditures of federal awards (the “schedule”) includes the County’s federal award activity under programs of the federal government for the year ended December 31, 2022. 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). The schedule presents only a selected portion of the operations of the County and accordingly, it is not intended to and does not present the financial position, changes in net position or cash flows of the County.