Title: Note 1 - Basis of Presentation
Accounting Policies: Note 1 - Basis of Presentation
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the North Dakota Association of Counties under programs of the federal government for the year ended December 31, 2024. The information 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 North Dakota Association of Counties, it is not intended to and does not present the financial position, changes in net position or fund balance, or cash flows of the North Dakota Association of Counties.
Note 2 - Summary of Significant Accounting Policies
Expenditures reported in the schedule are reported on the modified accrual basis of accounting within governmental activities and on the accrual basis of accounting within business-type activities, and subrecipient expenditures are recorded on the cash basis. When applicable, 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.
Note 3 - Indirect Cost Rate
As of October 2024, the North Dakota Association of Counties has elected to use the 15% de minimis cost rate, implementing when each grant/program new year begins. From January 1, 2024 to September 30, 2024, the Association used the 10% de minimis cost rate.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the North Dakota Association of Counties under programs of the federal government for the year ended December 31, 2024. The information 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 North Dakota Association of Counties, it is not intended to and does not present the financial position, changes in net position or fund balance, or cash flows of the North Dakota Association of Counties.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: Note 1 - Basis of Presentation
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the North Dakota Association of Counties under programs of the federal government for the year ended December 31, 2024. The information 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 North Dakota Association of Counties, it is not intended to and does not present the financial position, changes in net position or fund balance, or cash flows of the North Dakota Association of Counties.
Note 2 - Summary of Significant Accounting Policies
Expenditures reported in the schedule are reported on the modified accrual basis of accounting within governmental activities and on the accrual basis of accounting within business-type activities, and subrecipient expenditures are recorded on the cash basis. When applicable, 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.
Note 3 - Indirect Cost Rate
As of October 2024, the North Dakota Association of Counties has elected to use the 15% de minimis cost rate, implementing when each grant/program new year begins. From January 1, 2024 to September 30, 2024, the Association used the 10% de minimis cost rate.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Expenditures reported in the schedule are reported on the modified accrual basis of accounting within governmental activities and on the accrual basis of accounting within business-type activities, and subrecipient expenditures are recorded on the cash basis. When applicable, 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: Note 3 - Indirect Cost Rate
Accounting Policies: Note 1 - Basis of Presentation
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the North Dakota Association of Counties under programs of the federal government for the year ended December 31, 2024. The information 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 North Dakota Association of Counties, it is not intended to and does not present the financial position, changes in net position or fund balance, or cash flows of the North Dakota Association of Counties.
Note 2 - Summary of Significant Accounting Policies
Expenditures reported in the schedule are reported on the modified accrual basis of accounting within governmental activities and on the accrual basis of accounting within business-type activities, and subrecipient expenditures are recorded on the cash basis. When applicable, 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.
Note 3 - Indirect Cost Rate
As of October 2024, the North Dakota Association of Counties has elected to use the 15% de minimis cost rate, implementing when each grant/program new year begins. From January 1, 2024 to September 30, 2024, the Association used the 10% de minimis cost rate.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
As of October 2024, the North Dakota Association of Counties has elected to use the 15% de minimis cost rate, implementing when each grant/program new year begins. From January 1, 2024 to September 30, 2024, the Association used the 10% de minimis cost rate.