Notes to SEFA
Title: INDIRECT COST RATE
Accounting Policies: BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Carroll County, Maryland under programs of the federal government
for the year ended June 30, 2024, excluding the Carroll County Public Library, Board of Education of Carroll County and Carroll Community College. The County reporting entity is defined in Note 1 to the County’s basic financial statements.
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting as described in Note 1 to the County’s basic financial statements. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Carroll County, Maryland has elected to use the 10 percent de minimis indirect cost rate on certain grants and not to use the 10 percent de minimis indirect cost rate on other grants as allowed under the Uniform Guidance.
Carroll County, Maryland has elected to use the 10 percent de minimis indirect cost rate on certain grants and not to use the 10 percent de minimis indirect cost rate on other grants as
allowed under the Uniform Guidance.