Notes to SEFA
Title: RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards received by Cobb County, Georgia (the County). All federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, is included in this schedule. The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting which is described in Note 1C to the County’s basic financial statements. Expenditures are recognized following the applicable cost principles contained in either Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”) or
the OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Amounts reported in the accompanying schedule agree with the amounts reported in the related federal financial reports.