Notes to SEFA
Title: INDIRECT COSTS
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accompanying schedule of expenditures of federal awards (the Schedule) includes all federal grants to the County that had activity during the fiscal year ended June 30, 2024. The Schedule was prepared on the modified accrual basis of accounting. The information in 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. Because the schedule presents only a selected portion of the operations of Howard County, Maryland (the County), it is not intended to and does not present the
financial position, changes in net assets, or cash flows of the County.
De Minimis Rate Used: N
Rate Explanation: The County did not elect to use the 10 percent de minimis cost rate for indirect costs.
The County did not elect to use the 10 percent de minimis cost rate for indirect costs.