Audit 41445

Accounting Policies: Basis of Presentation: The accompanying schedule of expenditures of Federal and State Awards presents the activity of all Federal and State Awards programs of Starr County, Texas. 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) and by the State of Texas Single Audit Report issued by the Governor's Office of Budget and Planning and is also not a required part of the financial statements. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Summary of Significant Accounting Policies: Expenditures reported on the Schedule of Federal and State Awards are reported on the modified accrual basis of accounting. Grant Revenues are recognized as soon as all eligibility requirements imposed by the provider have been met. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. Indirect Cost Rate: The Uniform Guidance allows an organization to elect a 10% de minimus indirect cost rate. For the year ended September 30, 2022, the County did not elect to use this rate. Federal Loans and Loan Guarantees: During the year ended September 30, 2022, the County had no outstanding federal loans payable or loan guarantees. Federally Funded Insurance: During the year ended September 30, 2022, the County had no federally funded insurance. Noncash awards: During the year ended September 30, 2022, the County did not have any federal awards in the form of noncash assistance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.