Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Teton County under programs of the federal government for the year ended June 30, 2025. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Teton County, it is not intended to and does not represent the financial position and change in net position of Teton County.
The accounting policies used in preparing the Schedule are the same as those used in the preparation of the governmental fund financial statements as described in Note 1 to the financial statements. Federal payments-in-lieu-of-taxes (PILT) are not considered to be federal awards.
The County has elected not to use the de minimis ten percent indirect cost rate.
Of the federal expenditures presented in the schedule, the County provided no federal awards to sub-recipients.