Notes to SEFA
Title: 3. Reconciliation to Schedule of Intergovernmental Revenue (Exhibit D-1)
Accounting Policies: 1. Summary of Significant Accounting Policies
Note A - Reporting Entity
The Schedule of Expenditures of Federal Awards (SEFA) presents the activities of the federal award programs expended by Cook County, Minnesota. Because the County’s discretely presented component units are legally separate entities which prepare separate financial statements, any federal expenditures of the discretely presented component units are excluded from the County’s SEFA.
Note B - Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Cook 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 Cook County, it is not intended to and does not present the financial position or changes in net position of Cook County.
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.
De Minimis Rate Used: N
Rate Explanation: 2. De Minimis Cost Rate
Cook County has elected not to use a de minimis indirect cost rate allowed under the Uniform Guidance.
See notes to the SEFA for chart/table