Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following thecost principles contained in 2 CFR Part 225, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types ofexpenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Henry County(the County's) under programs of the federal government for the year ended December 31, 2022. The information on this Schedule isprepared in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents onlya selected portion of the operations of the County, it is not intended to and does not present the financial position, changes in netposition, or cash flows of the County.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following thecost principles contained in 2 CFR Part 225, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types ofexpenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The County passes certain federal awards received from the United States Department of Homeland Security to other governments ornot-for-profit agencies (subrecipients). As Note B describes, the County reports expenditures of Federal awards to subrecipients whenpaid in cash.As a subrecipient, the County has certain compliance responsibilities, such as monitoring its subrecipients to help assure they use thesesubawards as authorized by laws, regulations, and the provisions of contracts or grant agreements, and that subrecipients achieve theaward's performance goals.
Title: Community Development Block Grant (CDBG) and Home Investment Partnerships
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following thecost principles contained in 2 CFR Part 225, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types ofexpenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The current cash balance on the County's local program income account as of December 31, 2022 is $882,258.