Notes to SEFA
Title: Notes to Schedule of Expenditures of Federal Awards
Accounting Policies: Note A – Significant Account Policies
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
Calhoun County, It is not intended too and does not present the financial position, changes in net position, or cash
flows of Calhoun County. Expenditures reported on the Schedule are reported on the current financial resource
measurement focus and 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. Negative amounts shown on the Schedule represent adjustments or credits
made in the normal course of business to amounts reported as expenditures in the previous year.
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate
Calhoun County has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
Note A – Significant Account Policies
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
Calhoun County, It is not intended too and does not present the financial position, changes in net position, or cash
flows of Calhoun County. Expenditures reported on the Schedule are reported on the current financial resource
measurement focus and 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. Negative amounts shown on the Schedule represent adjustments or credits
made in the normal course of business to amounts reported as expenditures in the previous year.
Note B – Indirect Cost Rate
Calhoun County has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.