Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Rutherford County has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance
The accompanying schedule of expenditures of federal and State awards includes the federal and State grant activity of Rutherford County and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, Single Audit Requirements and the State Audit Implementation Act. Because the Schedule presents only a selected portion of the operations of Rutherford County, it is not intended to and does not present the financial position, changes in net position or cash flows of
Rutherford County
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Rutherford County has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance
Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Rutherford County has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Cluster of Programs
Accounting Policies: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Rutherford County has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance
The following are clustered by the NC Department of Health and Human Services and are treated separately for state audit requirement purposes: Subsidized Child Care, Foster Care, Adoption, and Guardianship Assistance Program