Notes to SEFA
Title: Basis of Presentation
Accounting Policies: See notes
De Minimis Rate Used: N
Rate Explanation: The County did not use an indirect cost.
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of Sabine County. The information in the SEFA is presented in accordance with the audit 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). Therefore, some amounts presented in this schedule may differ from amounts presented in the general purpose financial statements.
Title: Summary of Significant Accounting Policies
Accounting Policies: See notes
De Minimis Rate Used: N
Rate Explanation: The County did not use an indirect cost.
Expenditures reported on the SEFA 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 SEFA, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.