Notes to SEFA
Title: RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Accounting Policies: The County accounts for all awards under federal and state programs on the modified accrual basis of
accounting. 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 long-term liabilities, 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 in advance, they are recorded as
unearned revenues until earned. Generally, unused balances are returned to the grantor at the close of the
specified project periods.
The Schedule of Expenditures of Federal and State Awards (the Schedule) includes the federal and state
grant activity of the County under programs of the federal and state government for the fiscal year ended
September 30, 2024. The information in the Schedule is presented in accordance with the requirements of
the Single Audit Act Amendments of 1996 and Title 2 U.S. Code of Federal Regulations (CFR) Part 200,
Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform
Guidance), and by the State of Texas Grant Management Standards (TxGMS). 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 or changes in net position of the County.
De Minimis Rate Used: Y
Rate Explanation: The County has elected to use the de minimis indirect cost rate as allowed under Uniform Guidance and
TxGMS.
The information included in the Schedule as of September 30, 2024, which has been submitted to grantor
agencies will, in some cases, differ from amounts disclosed herein. The reports prepared for grantor agencies
are typically prepared at a later date and often reflect refined estimates of year-end accruals. The reports
will agree at termination of the grant as the discrepancies noted are timing differences.
In accordance with Uniform Guidance, non-federal entities must record expenditures for Disaster Grants -
Public Assistance (FEMA) on the SEFA when: (1) FEMA has approved the non-federal entity’s project
worksheet, and (2) the non-Federal entity has incurred the eligible expenditures.