Notes to SEFA
The Schedule of Expenditures of Federal Awards (SEFA) includes the federal award activity of Alcorn County (the County) under programs of the federal government for the year ended September 30, 2022. The information in this Schedule is presented in accordance with 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). Because the Schedule presents 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. Expenditures reported on the SEFA are accounted for on the accrual basis of accounting, and the SEFA was prepared using the same significant accounting policies, where applicable, as those used for the basic financial statements. Expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursements.
The County has not elected to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
The County did not receive any federal noncash assistance for the year ended September 30, 2022.