Notes to SEFA
Accounting Policies: Note 1: Basis of Accounting The accompanying schedules of expenditures of federal and state and awards (the Schedules) includes the federal and state grant activity of Refugio County, Texas, and are presented on the accrual basis of accounting. The information in these Schedules are 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 TxGMS. Therefore, some amounts presented in these Schedules may differ from amounts presented in, or used in the preparation, of the basic financial statements. NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the Schedules are reported on the modified accrual basis of accounting. These 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. Negative amounts shown on the Schedules, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.