Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards and the Schedule of Expenditures of State Awards (the “Schedules”) include the federal and state grant activity of the County under programs of the federal and state governments for the year ended December 31, 2024. The information in these schedules is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the State of Texas Grant Management Standards (TxGMS). Because the schedules present only a selected portion of the operations of the County, they are not intended to and do not present the financial position, changes in net position/fund balance or cash flows of the County.
The County accounts for federal and state funding using the modified accrual basis of accounting. This basis of accounting recognizes revenues in the accounting period in which they become susceptible to accrual, (i.e. both measurable and available), and expenditures in the accounting period in which the liability is incurred, if measurable, except for certain compensated absences, claims and judgments, which are recognized when the obligations are expected to be liquidated with expendable available financial resources. Federal and state grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant, and, accordingly, when such funds are received, they are recorded as unearned revenue until earned. Generally, unused balances are returned to the grantor at the close of specified project periods.
The County has elected not to use the de minimis indirect cost rate as allowed in the Uniform Guidance.