Notes to SEFA
Title: Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Elmore County, Idaho and is presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements. The County received federal awards both
directly from federal agencies and indirectly through pass-through entities. Federal financial assistance provided to a subrecipient is treated as expenditure when it is paid to the subrecipient.
De Minimis Rate Used: N
Rate Explanation: The County does not draw for indirect administrative expenses, and has not elected to use the 10% de minimus cost rate.
Governmental fund types account for the County’s federal grant activity. Therefore, expenditures in the schedule of expenditures of federal awards are recognized on the modified accrual basis-when they become a demand on current available financial resources. The County's summary of significant accounting policies is presented in Note 1 in the County's basic financial statements.
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Elmore County, Idaho and is presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements. The County received federal awards both
directly from federal agencies and indirectly through pass-through entities. Federal financial assistance provided to a subrecipient is treated as expenditure when it is paid to the subrecipient.
De Minimis Rate Used: N
Rate Explanation: The County does not draw for indirect administrative expenses, and has not elected to use the 10% de minimus cost rate.
The County does not draw for indirect administrative expenses, and has not elected to use the 10% de minimus cost rate.