Title: BASIS OF PRESENTATION
Accounting Policies: For purposes of the Schedule, expenditures for federal awards programs are recognized on 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.
De Minimis Rate Used: N
Rate Explanation: The Commission has elected not to use the ten percent de minimis cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) summarizes the expenditures of the Jefferson County Commission (the Commission) under programs of the federal government for the year ended September 30, 2024. The information in the 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 the Commission, it is not intended to, and does not, present the financial position, changes in net position, or cash flows of the Commission.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: For purposes of the Schedule, expenditures for federal awards programs are recognized on 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.
De Minimis Rate Used: N
Rate Explanation: The Commission has elected not to use the ten percent de minimis cost rate allowed under the Uniform Guidance.
For purposes of the Schedule, expenditures for federal awards programs are recognized on 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.
Title: FEDERAL PASS-THROUGH FUNDS
Accounting Policies: For purposes of the Schedule, expenditures for federal awards programs are recognized on 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.
De Minimis Rate Used: N
Rate Explanation: The Commission has elected not to use the ten percent de minimis cost rate allowed under the Uniform Guidance.
The Commission is a subrecipient of federal funds which have been subject to testing and are reported as expenditures and listed as federal pass-through funds in the Schedule.
Title: INDIRECT COST RATE
Accounting Policies: For purposes of the Schedule, expenditures for federal awards programs are recognized on 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.
De Minimis Rate Used: N
Rate Explanation: The Commission has elected not to use the ten percent de minimis cost rate allowed under the Uniform Guidance.
The Commission has elected not to use the ten percent de minimis cost rate allowed under the Uniform Guidance.
Title: OTHER
Accounting Policies: For purposes of the Schedule, expenditures for federal awards programs are recognized on 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.
De Minimis Rate Used: N
Rate Explanation: The Commission has elected not to use the ten percent de minimis cost rate allowed under the Uniform Guidance.
The Commission issues loans through the Workforce & Economic Development Office for eligible recipients. The following loans were outstanding as of September 30, 2024:
Title: EDA/RLF SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS CALCULATION
Accounting Policies: For purposes of the Schedule, expenditures for federal awards programs are recognized on 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.
De Minimis Rate Used: N
Rate Explanation: The Commission has elected not to use the ten percent de minimis cost rate allowed under the Uniform Guidance.
The Federal Assistance Listing #11.307 Economic Adjustment Assistance Revolving Loan (EDA/RLF) schedule of expenditures of federal awards calculation was performed as follows: