Notes to SEFA
This schedule is prepared on the same basis of accounting as the County’s financial statements. The County uses the cash basis of accounting. The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the County’s portion, may be more than shown. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The County has elected to use the 15% de minimis indirect cost rate under the Uniform Guidance.
In 2017 the County was approved by the USDA to receive a Community Facilities Loan in the amount of $1,400,000 to construct a new pavilion roof and HVAC system at the County Fairgrounds. The balance owing at the end of December 31, 2024, is $1,110,518.75.