Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accounting policies and presentation of the accompanying schedule of expenditures of federal awardsand state financial assistance of Gadsden County, Florida (the County) have been designed to conformwith generally accepted accounting principles applicable to governmental units, including the reportingand compliance requirements of the Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance) (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 Countys basic financial statements for the yearended September 30, 2022. All federal awards and state financial assistance received directly from federalor state agencies, as well as federal awards and state financial assistance passed through othergovernmental agencies, are included in the schedule.
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 and state financial assistance includes the federal and state award activity of Gadsden County, Florida, and is presented on the modified accrual basis of accounting.