Audit 11602

Title: Basis of Presentation Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant and costs contract activity of the Town of Northfield, Vermont and is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the uniform guidance, wherein certain types of expenditures are not allowable or are 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 the Town of Northfield, Vermont, Inc. under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of 2 CFR part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Town of Northfield, Vermont. it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Town of Northfield, Vermont.