Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Revenues and expenditures in the schedules are presented in accordance with the modified accrual basis of accounting and are generally in agreement with revenues and expenditures reported in the County’s 2024 fund financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards. Under these principles, certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The County has elected to charge a de minimis rate of 10% of modified total costs
The accompanying schedules of expenditures of federal awards for the County are presented 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).
The schedules of expenditures of federal awards include all federal awards of the County and the Dickinson – Iron County Health Department. Because the schedules present 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.
The County’s reporting entity is defined in Note 1 of the County’s Financial Statements. The County’s financial statements include the operations of the Iron County Road Commission and the Iron County Medical Care Facility discretely presented component units, which received federal awards that are not included in the Schedule for the year ended
December 31, 2024, as the entities were separately audited.
Title: OVERSIGHT AGENCIES
Accounting Policies: Revenues and expenditures in the schedules are presented in accordance with the modified accrual basis of accounting and are generally in agreement with revenues and expenditures reported in the County’s 2024 fund financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards. Under these principles, certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The County has elected to charge a de minimis rate of 10% of modified total costs
The federal oversight agency for the County is as follows:
Federal – U.S. Department of Agriculture
Title: PASS-THROUGH ENTITIES
Accounting Policies: Revenues and expenditures in the schedules are presented in accordance with the modified accrual basis of accounting and are generally in agreement with revenues and expenditures reported in the County’s 2024 fund financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards. Under these principles, certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The County has elected to charge a de minimis rate of 10% of modified total costs
The pass-through grantor’s number represents the County’s provider I.D. number. Such other I.D. numbers were not available.
The County did not act as a pass-through agent for any federal monies.
Title: FEDERAL REVENUE RECONCILIATION
Accounting Policies: Revenues and expenditures in the schedules are presented in accordance with the modified accrual basis of accounting and are generally in agreement with revenues and expenditures reported in the County’s 2024 fund financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards. Under these principles, certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The County has elected to charge a de minimis rate of 10% of modified total costs
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