Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal financial assistance programs of Lampasas County, Texas, for the year ended September 30, 2024. The County’s reporting entity is defined in Note I to the County’s financial statements. The Schedule of Expenditures of Federal Awards includes all Federal awards expended by the County, regardless of whether the award was received directly from the Federal agency or passed through another agency. The accompanying Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting, which is described in Note I to the County’s financial statements.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the de minimis indirect cost rate as allowed in the Uniform Guidance.