Notes to SEFA
Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: The County of Bernalillo has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the County of Bernalillo 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). Because the schedule presents only a selected portion of the operations of the County of Bernalillo, it is not intended to and does not present the financial position, changes in net position or cash flows of the County of Bernalillo.
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: The County of Bernalillo has elected to use the 10-percent de minimis indirect cost rate as 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 for all awards with the exception of Assistance Listing number 21.027 which follow criteria determined by the Department of Treasury for allowability of costs. Under these principles, certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-thru entity identifying numbers are presented where available. The County of Bernalillo has no sub recipients for federal awards other than those discussed in Note 4, no loan or loan guarantee programs, and has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance for any indirect costs.
Title: NOTE 3 EMERGENCY HOUSING VOUCHERS (EHV)
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: The County of Bernalillo has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
In accordance with reporting requirements outlined in HUD PIH 2021-25, EHV expenditures are reported on the schedule under Assistance Listing Number 14.871 Section 8 Housing Choice Vouchers. As of June 30, 2024, there were $576,751 expenditures for the EHV program.
Title: NOTE 4 AMERICAN RESCUE PLAN
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: The County of Bernalillo has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The American Rescue Plan Act (ARPA) identified Bernalillo County as an eligible local government to receive $131,911,293 in direct aid to combat the COVID-19 pandemic, including the public health and economic impacts. The distribution of the funding was in two 50% direct allocations (tranches), each of $65,955,647. The first tranche was received in May of 2021 and the second was received in June of 2022. The County sought input to a number of outside agencies, elected officials and county departments to use in development of a Recovery Plan to utilize the ARPA funds. The Bernalillo County Commissioners approved the Recovery Plan in late September of 2021. There were expenditures in FY22, FY23, and FY24, the funds received above the amount of the expenditures were recorded as unearned revenue. The name of the three subrecipients and the amount given out can be found the last page of the SEFA. The county plans to allocate funds prior to the December 31, 2024, deadline and all ARPA expenditures are planned to be completed by December 31, 2026.