Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the Schedule of Expenditures of Federal Awards represent adjustments or credits made in the normal course of business to amounts reported as expenses in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards includes the Federal grant activity of Charlevoix County, Michigan, and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements, which are reconciled in Note 4.
Federal Awards of the Grandvue Medical Care Facility and Charlevoix County Road Commission are excluded from the accompanying Schedule of Expenditures of Federal Awards. The component units’ audit reports are issued under separate covers. Single Audits, when applicable, are included in their reports. To view copies of those reports, contact the administrative offices of the component unit or the Charlevoix County Clerk’s office.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the Schedule of Expenditures of Federal Awards represent adjustments or credits made in the normal course of business to amounts reported as expenses in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the Schedule of Expenditures of Federal Awards represent adjustments or credits made in the normal course of business to amounts reported as expenses in prior years. Pass-through entity identifying numbers are presented where available. The County has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the Schedule of Expenditures of Federal Awards represent adjustments or credits made in the normal course of business to amounts reported as expenses in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
No federal awards were passed through by the County to any subrecipients during the year.
Title: RECONCILIATION TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the Schedule of Expenditures of Federal Awards represent adjustments or credits made in the normal course of business to amounts reported as expenses in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The following reconciles the intergovernmental revenues reported in the September 30, 2024, basic financial
statements to the expenditures of the County administered federal programs reported on the Schedule of
Expenditures of Federal Awards:
Federal/ Less
State State Federal
Revenue Revenue Expenditures
PRIMARY GOVERNMENT
GENERAL FUND
Cooperative reimbursement - FOC $ 580,993 $ - $ 580,993
Cooperative reimbursement - Incentive 38,571 - 38,571
Other programs 1,952,991 (1,952,991) -
TOTAL GENERAL FUND 2,572,555 (1,952,991) 619,564
SPECIAL REVENUE FUNDS
Commission on Aging Fund 214,132 ( 85,085) 129,047
Sheriff's Grant and Project Fund 53,609 - 53,609
ARPA Fund 977,971 - 977,971
SHARP Fund 47,519 - 47,519
Other programs 1,932,369 (1,932,369) -
TOTAL SPECIAL REVENUE FUNDS 3,225,600 (2,017,454) 1,208,146
PROPRIETARY FUNDS
Public Transit 1,855,645 (992,696) 862,949
Transportation Authority 183,654 (155,877) 27,777
Land Bank 27,468 ( 27,468) -
TOTAL PROPRIETARY FUNDS 2,066,767 (1,176,041) 890,726
TOTAL PRIMARY GOVERNMENT $ 7,864,922 $ (5,146,486) $ 2,718,436