Notes to SEFA
The accompanying Schedule of Expenditures of Federal and State Awards (the “Schedule”) is presented using the modified accrual basis of accounting. Under the modified accrual basis of accounting, expenditures are recognized when the related fund liability is incurred. Federal grant programs which are administered through State agencies (pass-through awards) have been included in this report, including any funds expended for the State funded portion of those same programs. 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 and the State Single Audit Implementation Act, therefore, some amounts presented in this Schedule may differ from amounts presented in or used in the preparation of the financial statements. The County elected not to utilize the ten percent de Minimis indirect cost rate.
The NC Department of Justice does not consider the Opioid Settlement Fund either Federal or State Financial Assistance since they are from a settlement with private major drug companies. Since these funds are subject to the State Single Audit Implementation Act, they are reported as “Other Financial Assistance” on the SEFSA and considered State Awards for State single audit requirement.