Audit 18810

Accounting Policies: Note 1.Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Town of Woodbridge, Connecticut (the Town), under programs of the federal government for the year ended June 30, 2022. The information in the Schedule is presented in accordance with the requirements of the 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 a selected portion of the operations of the Town of Woodbridge, Connecticut, it is not intended to, and does not, present the financial position, changes in fund balance, and changes in net position or cash flows of the Town of Woodbridge, Connecticut. Note 2.Summary of Significant Accounting Principles Expenditures reported in the Schedule are recognized under the modified accrual basis of accounting. Such expenditures are reported following the cost principles contained in the Uniform Guidance for all awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.