Notes to SEFA
The accounting policies and presentation of the accompanying schedule of expenditures of federal awards and state financial assistance of Gadsden County, Florida (the County) have been designed to conform with generally accepted accounting principles applicable to governmental units, including the reporting and compliance requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) (federal awards); and Chapter 10.550, Rules of the Auditor General of the State of Florida. The County reporting entity is defined in Note 1 to the County’s basic financial statements for the year ended September 30, 2025. All federal awards and state financial assistance received directly from federal or state agencies, as well as federal awards and state financial assistance passed through other governmental agencies, are included in the schedule.
The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal and state award activity of the County and is presented on the modified accrual basis of accounting.
The County did not elect to use the 15% de minimis indirect cost rate as covered in §200.414, Indirect (F&A) Costs, of the Uniform Guidance.