Notes to SEFA
Title: Subrecipient
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, 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 Town has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
For the year ended December 31, 2022, the Town provided no funds to subrecipients.
Title: Nonmonetary Assistance
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, 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 Town has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
For the year ended December 31, 2022, the Town received no nonmonetary assistance.