Notes to SEFA
Title: Basis of Presentation and Accounting
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance programs of Gwinnett County, Georgia, with the exception of the Gwinnett County Board of Health. The County reporting entity is defined in Note 1 to the County’s financial statements. Federal financial assistance received directly from federal agencies and federal assistance passed through other government agencies are included on the schedule. The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting for governmental fund types and the accrual basis of accounting for proprietary fund types as more fully described in Note 1 to the County’s financial statements.
De Minimis Rate Used: N
Rate Explanation: Gwinnett County has elected not to utilize the federal de minimus indirect cost rate and no indirect costs are charged to grant programs.
The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance programs of Gwinnett County, Georgia, with the exception of the Gwinnett County Board of Health. The County reporting entity is defined in Note 1 to the County’s financial statements. Federal financial assistance received directly from federal agencies and federal assistance passed through other government agencies are included on the schedule. The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting for governmental fund types and the accrual basis of accounting for proprietary fund types as more fully described in Note 1 to the County’s financial statements.
Title: Note 1. Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance programs of Gwinnett County, Georgia, with the exception of the Gwinnett County Board of Health. The County reporting entity is defined in Note 1 to the County’s financial statements. Federal financial assistance received directly from federal agencies and federal assistance passed through other government agencies are included on the schedule. The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting for governmental fund types and the accrual basis of accounting for proprietary fund types as more fully described in Note 1 to the County’s financial statements.
De Minimis Rate Used: N
Rate Explanation: Gwinnett County has elected not to utilize the federal de minimus indirect cost rate and no indirect costs are charged to grant programs.
The financial statements of Gwinnett County, Georgia, have been prepared in conformity with the Generally Accepted Accounting Principles as applied to governmental units. The Governmental Accounting Standards Board is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. The more significant accounting policies of the County are described within the enclosed form and highlighted below (this information is located on page 84 of the County's submitted ACFR): (A) Reporting entity; (B) Governmentwide and fund financial statements; (C) Measurement focus, basis of accounting, and financial statement presentation; (D) Cash, Cash Equivalents, and Investments; (E) Interfund Receivables/Payables; (F) Inventories; (G) Prepaid Items; (H) Capital Assets; (I) Restricted Assets; (J) Deferred Outflows/Inflows of Resources; (K) Compensated Absences; (L) Estimated Claims Payable; (M) Pension Plan(s) and Other Post-Employment Benefits; (N) Long-term Obligations; (O) Fund Balance; (P) Net Position; (Q) Interfund Transactions; (R) Connection Charges; (S) System Development Charges; (T) Statement of Cash Flows; (U) Allocation of Indirect Expenses; (V) Management Estimates; (W) Leases; (X) Subscription Based Information Technology Arrangements; (Y) Public-Private and Public-Public Partnerships; (Z) Restatement of 2023 Net Position for Change in Accounting Principle; and (AA) Accounting Changes.