Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activityof Gallatin County, Kentucky under programs of the federal government for the year ended June 30, 2022. Theinformation in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operationsof Gallatin County, Kentucky, it is not intended to and does not present the financial position, changes in netassets, or cash flows of Gallatin County, Kentucky. Expenditures reported on the Schedule are reported on the basis of the accounting practices prescribed or permitted by the Department for Local Government to demonstrate compliance with the Commonwealth of Kentuckys regulatory basis of accounting and budget laws, which is a basis of accounting other than accountingprinciples generally accepted in the United States of America. Such expenditures are recognized following thecost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable orare limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or creditsmade in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.