Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the 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 County has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
The accompanying schedule of expenditures of federal awards and state financial assistance (the Schedule) includes the federal and state grant activity of the Monroe County, Florida (County) under programs of the federal and state government for the year ended September 30, 2024. 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), and Chapter 10.550, Rules of the Florida Auditor General. Because the Schedule presents only a selected portion of the operations of the County, it is not intended to and does not present the financial position, and changes in net position or cash flows of the County.
Federal awards are presented for each federal agency by the Assistance Listing Number (ALN) and state awards are presented for each state agency by the Catalog of State Financial Assistance (CSFA) number when available in the grant agreements or determinable based on a grant’s source and purpose.
For grants that have not yet been assigned a ALN or CSFA number, the schedule includes the grant with a ALN or CSFA number of NA for not available and categorizes the funding under the sub-heading of Other Financial Assistance.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the 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 County has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
Expenditures reported on the Schedule are reported on the 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: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the 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 County has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
During the fiscal year ending September 30, 2024, the County elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Grant Contingencies
Accounting Policies: Expenditures reported on the Schedule are reported on the 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 County has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
The County participates in federal and state grant programs that are governed by various rules and regulations of the grantor agencies. Amounts received or receivable from grant agencies are subject to financial and compliance audits by the grantors or their representatives. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, which may be disallowed by the grantor, cannot be determined at this time, although the County expects such amounts, if any, to be immaterial.
Title: Fiscal Year Obligations From Disaster Grants
Accounting Policies: Expenditures reported on the Schedule are reported on the 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 County has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
At September 30, 2024, the Department of Homeland Security’s Federal Emergency Management Agency (FEMA) had outstanding obligations totaling $8,626,218 for Monroe County under its Disaster Grants – Public Assistance Grant Program (ALN 97.036) for the County’s recovery from Hurricane Irma and $950,000 for Hurricane Ian.