Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Oklahoma County under programs of the federal government for the year ended June 30, 2024. The information in this schedule 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).
The Governmental Accounting Standards Board (GASB) has set forth criteria to be considered in determining financial accountability. The reporting entity is the primary government of Oklahoma County as presented in the Annual Comprehensive Financial Report (ACFR). Component Units included in the ACFR prepare individual financial statements that meet the requirements of the Uniform Guidance and have not been included in this Schedule.
Expenditure reported on the Schedule are reported on the cash basis of accounting, which is a basis of accounting other than generally accepted accounting principles. Revenue and expenditures are reported using the modified accrual basis of accounting in the ACFR. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Non-cash assistance in the form of commodities was received from the Oklahoma State Department of Education. The federal value of $12,030 is included in the Schedule of Expenditures of Federal Awards.
Oklahoma County has elected to not use the 10 percent de minimis cost rate allowed for by 2 CFR §200.414(f).