Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of
accounting, which is described in Note 1 to the County’s basic financial statements for the
year ended June 30, 2024. 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. Therefore, some
amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee elected to use the de minimus indirect cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal grant activity of Coconino County (County) under programs of the federal
government for the year ended June 30, 2024. The information in this Schedule is presented
in accordance with the requirements of 2 CFR Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform
Guidance).
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of
accounting, which is described in Note 1 to the County’s basic financial statements for the
year ended June 30, 2024. 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. Therefore, some
amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee elected to use the de minimus indirect cost rate.
Expenditures reported on the Schedule are reported on the modified accrual basis of
accounting, which is described in Note 1 to the County’s basic financial statements for the
year ended June 30, 2024. 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. Therefore, some
amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the financial statements.
Title: NOTE 3 FEDERAL ASSISTANCE LISTINGS NUMBER
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of
accounting, which is described in Note 1 to the County’s basic financial statements for the
year ended June 30, 2024. 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. Therefore, some
amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee elected to use the de minimus indirect cost rate.
The program titles and Federal Assistance Listings numbers were obtained from the federal
or pass-through grantor or the 2024 Federal Assistance Listings.
Title: NOTE 4 INDIRECT COST
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of
accounting, which is described in Note 1 to the County’s basic financial statements for the
year ended June 30, 2024. 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. Therefore, some
amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee elected to use the de minimus indirect cost rate.
The County elected to use the 10 percent de minimus indirect cost rate as covered in 2 CFR
200.414.