Notes to SEFA
Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (THE SCHEDULE) INCLUDES THE FEDERAL GRANT ACTIVITY OF LUBBOCK COUNTY, TEXAS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS FOR FEDERAL AWARDS (UNIFORM GUIDANCE). EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. THESE 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. NEGATIVE AMOUNTS SHOWN ON THE SCHEDULE, IF ANY, REPRESENT ADJUSTMENTS OR CREDITS MADE IN THE NORMAL COURSE OF BUSINESS TO AMOUNTS REPORTED AS EXPENDITURES IN PRIOR YEARS.
De Minimis Rate Used: N
Rate Explanation: N/A