Res-2020-058 Cost Allocation Plan

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Direct Salaries & Waqes - the 2018 fiscalyear end salaries & wages for each department Excluded Costs - Certain items of cost are classified by Uniform Guidance as extraordinary or distorting expenditures and are excluded from the computation of the indirect cost rate i.e. capitalized equipment. lndirect Costs - costs incurred for a common or joint purpose benefiting more than one cost objective lndirect Cost Rate - a devise for determining in a reasonable manner the proportion of indirect costs each program should bear. lt is the ratio of the indirect coast to a direct cost base. Sub Department - additional breakdown of a department expenses for accounting purposes Total Costs - the 2018 fiscal year end actual expenses Unallowable Costs - Certain items of cost are classified by Uniform Guidance as unallowable, which means that federal funds cannot be used for those items of cost. For indirect cost rate calculation; however, these unallowed costs are included in the base along with the direct costs. Some examples for unallowed costs are: Governance, promotional advertising, entertainment, and fines & penalties. Uniform Guidance - United States Office of Management & Budget, 2CFR Part 200, Uniform Administration Requirements, Cost Principles and Audit Requirements for Federal Awards establishing principles and standards for determining costs for Federal awards carried out through grants, cost reimbursement contracts, and other agreements with governmental units. FINANCIAL INFORMATION Accountino Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. 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. Audited Data Kittitas County is audited annually by the State Auditor's office. The audits consist of Financial and Single Audit and the Accountability Audit. The Financial and Single Audit was issued on September 27 ,2018, Repoft#1024778. The report stated: We issued an unmodified opinion on the fair presentation of the financial statements of the governmental activities, the business-fype activities, each major fund and the aggregate remaining fund information in accordance with accounting principles generally accepted in the United Sfates of America (GAAP). i$€ffal Control over Financial Re.porting: . Signijicant D*ficiencies- ltr'e reported no deficiancies in the desigl or operalion of ir{ernal costfsl ovu: financial reportiag tbat we consider to be significanl deficiencies. c Material Weahresses: We identified deficiencies lhat rr're cossider to be rnaterial weaftness€s- lFt noted no instames of aoaconpliance that were nratrriat to the financial statern*nts of the tlouty. 2