Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting for all governmental funds and accrual basis for the enterprise funds. Such expenditures are recognized following the cost principles contained in the Uniform Guidance (federal programs) wherein, certain types of expenditures are not allowable or are limited as to reimbursement. When applicable, negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures/expenses in prior years.
De Minimis Rate Used: N
Rate Explanation: Hamilton County, FL (the auditee) did not use the de minimum cost rate.
The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal and state grant award activity for Hamilton County, Florida, under the programs of the federal government and State of Florida 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 Auditor General. Because the Schedule presents only a selected portion of the operations of Hamilton County, Florida, it is not intended to and does not present the financial position, changes in net assets/position, or cash flows of Hamilton County, Florida.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting for all governmental funds and accrual basis for the enterprise funds. Such expenditures are recognized following the cost principles contained in the Uniform Guidance (federal programs) wherein, certain types of expenditures are not allowable or are limited as to reimbursement. When applicable, negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures/expenses in prior years.
De Minimis Rate Used: N
Rate Explanation: Hamilton County, FL (the auditee) did not use the de minimum cost rate.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting for all governmental funds and accrual basis for the enterprise funds. Such expenditures are recognized following the cost principles contained in the Uniform Guidance (federal programs) wherein, certain types of expenditures are not allowable or are limited as to reimbursement. When applicable, negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures/expenses
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting for all governmental funds and accrual basis for the enterprise funds. Such expenditures are recognized following the cost principles contained in the Uniform Guidance (federal programs) wherein, certain types of expenditures are not allowable or are limited as to reimbursement. When applicable, negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures/expenses in prior years.
De Minimis Rate Used: N
Rate Explanation: Hamilton County, FL (the auditee) did not use the de minimum cost rate.
Hamilton County, Florida, did not elect to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.
Title: Noncash Assistance
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting for all governmental funds and accrual basis for the enterprise funds. Such expenditures are recognized following the cost principles contained in the Uniform Guidance (federal programs) wherein, certain types of expenditures are not allowable or are limited as to reimbursement. When applicable, negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures/expenses in prior years.
De Minimis Rate Used: N
Rate Explanation: Hamilton County, FL (the auditee) did not use the de minimum cost rate.
Hamilton County, Florida, expended no federal awards or state projects in the form of noncash assistance, insurance, loans, or loan guarantees.