Notes to SEFA
Title: Basis of presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance whereincertain types of expenditures are not allowable or are limited as to reimbursement.The Town has elected not to use the 10% de minimis indirect cost rate as allowed under the UniformGuidance.
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 (Schedule) includes the federal award activity of the Town of Fairfield, Connecticut (Town) under programs of the federal government. The information in this Schedule is presented in accordance with the requirements of 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, it is not intended to and does not present the financial position, changes in net position, changes in fund balance, or cash flows of the Town.
Title: Noncash federal awards
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance whereincertain types of expenditures are not allowable or are limited as to reimbursement.The Town has elected not to use the 10% de minimis indirect cost rate as allowed under the UniformGuidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Town received and expended $316,737 of USDA donated commodities under the National School Lunch program.
Title: Prior year findings and questioned costs
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance whereincertain types of expenditures are not allowable or are limited as to reimbursement.The Town has elected not to use the 10% de minimis indirect cost rate as allowed under the UniformGuidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There were no prior year audit findings or questioned costs.