Notes to SEFA
Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenses reported in the Schedule are reported on the modified accrual basis of accounting. Such expensesare recognized following the cost principles contained in the Uniform Guidance wherein certain types ofexpenses are not allowable or are limited as a reimbursement. Pass-through entity names are presentedwhere available.
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 grantactivity of the Village of Golf, Florida, (the Village) under programs of the federal government for the yearended September 30, 2022. The information in this schedule is presented in accordance with the requirementsof Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles,and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of the operations of the Organization, it is not intended to and does not present the financialposition, changes in financial position, or cashflows of the Organization.