Notes to SEFA
Accounting Policies: GENERAL: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) presents the activity of all federal award programs of the Town of Summerville, South Carolina (the “Town”) for the year ended June 30, 2023. All federal awards received directly from the federal agencies, as well as those passed through other government agencies, are included on the Schedule. BASIS OF ACCOUNTING: The accompanying Schedule is presented using the accrual basis of accounting. RELATIONSHIP TO FINANCIAL STATEMENTS: Federal award expenditures and expenses are reported in the Town’s financial statements primarily in the General Fund and the ARPA Fund. MATCHING COSTS: Matching costs, i.e., the non-federal share of certain program costs, are not included in the accompanying Schedule. SUB-RECIPIENTS: The Town passed through federal awards totaling approximately $32,000 to sub-recipients during fiscal year 2023, as detailed on the face of the Schedule.
De Minimis Rate Used: N
Rate Explanation: The amount expended does not include any amounts claimed as an indirect cost recovery, as the Town elected not to use the 10% de minimis cost rate.