Notes to SEFA
Title: Reconciliation to Intergovernmental revenue
Accounting Policies: Reporting Entity
The Schedule of Expenditures of Federal Awards presents the activities of federal award programs expended by Grant County. The County’s reporting entity is defined in Note 1 to the financial statements. The schedule does not include $263,672 in federal awards expended by the Housing and Redevelopment Authority of Grant County component unit. The component unit is legally separate from the primary government and expended less than $750,000 of federal awards for the year ended December 31, 2022, and therefore, was not subject to the audit 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).
Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Grant County under programs of the federal government for the year ended December 31, 2022. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Because the schedule presents only a selected portion of the operations of Grant County, it is not intended to and does not present the financial position or changes in net position of Grant County.
Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Grant County has elected to not use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance.
See notes to the SEFA for Chart/Table