Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: The modified accrual basis of accounting is used for these funds. This basis of accounting recognizes
revenues in the accounting period in which they become susceptible to accrual, i.e. both measurable and
available, and expenditures in the accounting period in which the liability is incurred, if measurable;
except for certain compensated absences and claims and judgments, which are recognized when the
obligations are expected to be liquidated with expendable available financial resources.
Federal and state grant funds are considered to be earned to the extent of expenditures made under the
provisions of the grant, and accordingly, when such funds are received, they are recorded as unearned
revenues until earned. Generally unused balances are returned to the grantor at the close of specified
project periods.
De Minimis Rate Used: Y
Rate Explanation: The County has elected to use the de minimis indirect cost rate as allowed in the Uniform Guidance.
The accompanying schedule of expenditures of federal and state awards includes the federal and state
award activity of the County, under programs of the federal and state governments for the year ended
September 30, 2024, 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 the Texas Grant Management Standards. Because the schedule
presents only a selected portion of the operations of the County, it is not intended to and does not
present the financial position, changes in net position, or cash flows of the County. 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.