Title: LOANS OUTSTANDING
Accounting Policies: BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards includes Federal grant activity of Kent County, Delaware (the County) and is presented on the modified accrual basis of accounting. Matching funds are excluded from the schedule and the Program Income
generated from Federal Grants is classified as Federal Expenditures when spent. The information on this schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Some amounts presented in this schedule may differ from
amounts presented in, or used in the preparation of, the basic financial statements.
SUMMARY OF SIGNIFICANT 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 for all awards. Under these principles, certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule 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: The County did not elect to use the 10% De Minimis cost rate for indirect costs.
During fiscal year 2020, the County was awarded $1,023,000 in loan proceeds from the Delaware Department of Natural Resources and Environmental Control, Delaware Water
Pollution Control Revolving Fund, for the Air Blower Optimization project under the Capitalization Grants for Clean Water State Revolving Funds Program (ALN #66.458). This
loan is not fully drawn down, and expenditures related to it in the amount of $45,348 are reflected in the schedule of expenditures of federal awards. The loan balance at June 30,
2024 was $786,206 ($655,145 or 83.33 percent federal funds and $131,061 or 16.67 percent state funds). During fiscal year 2021, the County was awarded $1,640,000 in loan proceeds from the
Delaware Department of Natural Resources and Environmental Control, Delaware Water Pollution Control Revolving Fund, for the Plant-Wide Power Backup project under the
Capitalization Grants for Clean Water State Revolving Funds Program (ALN #66.458). This loan is not fully drawn down, and expenditures related to it in the amount of $47,871 are
reflected in the schedule of expenditures of federal awards. The loan balance at June 30, 2024 was $1,272,866 ($1,060,679 or 83.33 percent federal funds and $212,187 or 16.67 percent state funds).
During fiscal year 2023, the County was awarded $17,000,000 in loan proceeds from the Delaware Department of Natural Resources and Environmental Control, Delaware Water
Pollution Control Revolving Fund, for the Biosolids Capacity Expansion project under the Capitalization Grants for Clean Water State Revolving Funds Program (ALN #66.458). This
loan is not fully drawn down, and expenditures related to it in the amount of $811,143 are reflected in the schedule of expenditures of federal awards. The loan balance at June 30,
2024 was $1,789,359 ($1,491,073 or 83.33 percent federal funds and $298,286 or 16.67 percent state funds). During fiscal year 2024, the County was awarded $722,856 in loan proceeds from the Delaware Department of Natural Resources and Environmental Control, Delaware Water Pollution Control Revolving Fund, for the Whispering Pines Septic Elimination project under the Capitalization Grants for Clean Water State Revolving Funds Program (ALN #66.458). This loan is not fully drawn down, and expenditures related to it in the amount of $586,134 are reflected in the schedule of expenditures of federal awards. The loan balance at June 30, 2024 was $703,389 ($586,134 or 83.33 percent federal funds and $117,255 or 16.67 percent
state funds).
Title: INDIRECT COSTS
Accounting Policies: BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards includes Federal grant activity of Kent County, Delaware (the County) and is presented on the modified accrual basis of accounting. Matching funds are excluded from the schedule and the Program Income
generated from Federal Grants is classified as Federal Expenditures when spent. The information on this schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Some amounts presented in this schedule may differ from
amounts presented in, or used in the preparation of, the basic financial statements.
SUMMARY OF SIGNIFICANT 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 for all awards. Under these principles, certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule 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: The County did not elect to use the 10% De Minimis cost rate for indirect costs.
The County did not elect to use the 10% De Minimis cost rate for indirect costs. For the year ended June 30, 2024, there were no indirect costs included in the schedule of expenditures of federal awards.
Title: NONCASH AWARDS
Accounting Policies: BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards includes Federal grant activity of Kent County, Delaware (the County) and is presented on the modified accrual basis of accounting. Matching funds are excluded from the schedule and the Program Income
generated from Federal Grants is classified as Federal Expenditures when spent. The information on this schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Some amounts presented in this schedule may differ from
amounts presented in, or used in the preparation of, the basic financial statements.
SUMMARY OF SIGNIFICANT 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 for all awards. Under these principles, certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule 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: The County did not elect to use the 10% De Minimis cost rate for indirect costs.
The amount of equipment and supplies reported on the schedule is the value of the item based on the agencies acquisition price.