Notes to SEFA
Title: Department of the Treasury Coronavirus State and Local Fiscal Recovery
Accounting Policies: Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting, which is described in Note 1 to the Police Jurys financial statements. Such expenditures are recognized following the principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
For the year ended December 31, 2022, a total of $1,350,345 was received from the Department of Treasury - Coronavirus State and Local Fiscal Recovery Funds. Of this amount $129,738 was expensed and reported on the SEFA during the current year end. The remainder of the monies $1,220,607 were deferred and will be recognized as income and on the SEFA when expended. Total deferred ARPA revenues total $2,012,080 at December 31, 2022.