Notes to SEFA
Title: General
Accounting Policies: The accompanying SEFSA is presented using the modified accrual basis of accounting, which is described in Note 1 of the County’s notes to the financial statements.
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 and State Awards (SEFSA) present the federal and state grant activity for the County of Hidalgo, Texas (the County) for the year ended December 31, 2024. The reporting entity is defined in Note 1 to the County’s basic financial statements. The information in this Schedule is 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) and the Texas Grant Management Standards. Because the SEFSA presents only a selected portion of the operations of the County, it is not intended and does not present the financial position, changes in net assets, or cash flows of the County.
Title: Basis of Presentation
Accounting Policies: The accompanying SEFSA is presented using the modified accrual basis of accounting, which is described in Note 1 of the County’s notes to the financial statements.
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 SEFSA is presented using the modified accrual basis of accounting, which is described in Note 1 of the County’s notes to the financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and Texas Grant Management Standards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the SEFSA represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The County has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Relationship to Federal and State Financial Reports
Accounting Policies: The accompanying SEFSA is presented using the modified accrual basis of accounting, which is described in Note 1 of the County’s notes to the financial statements.
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.
Amounts reported in the accompanying schedule may not agree with the amounts reported in the related Federal and State financial reports filed with the grantor agencies because of accruals made in the schedule which will be included in future reports filed with agencies.
Title: Reconciliation of Schedule of Federal and State Awards to Annual Comprehensive Financial Report
Accounting Policies: The accompanying SEFSA is presented using the modified accrual basis of accounting, which is described in Note 1 of the County’s notes to the financial statements.
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 is a reconciliation of the SEFSA to the Statement of Revenues, Expenditures, and Changes in Fund Balance within the County of Hidalgo, Texas Annual Comprehensive Financial Report (ACFR):