Notes to SEFA
Accounting Policies: BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes the federal grantactivity of Jackson Township Volunteer Fire Company and is presented on the accrualbasis of accounting. The information in this schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance). SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the accompanying schedule of expenditures of federal awardsare reported in accordance with generally accepted accounting principles (GAAP).Indirect CostsThe Organization did not elect to use the ten percent (10%) de minimis indirect cost rate.SubrecipientsThe Organization did not pass through any federal funds to subrecipients during the year.Federal Loan Guarantee ProgramsThe Organization did not have any federal loan guarantee programs to report for the yearended December 31, 2022, as described in 2 CFR section 200.502(b).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.