Notes to SEFA
Title: U.S. Department of Homeland Security Programs
Accounting Policies: Accounting policies and financial reporting practices permitted for municipalities in Massachusetts are prescribed by the Uniform Municipal Accounting System (UMAS) promulgated by the Commonwealth of Massachusetts Department of Revenue. The accompanying Schedule includes the federal grant transactions of the Town. Although some of these programs may be supplemented with state and other revenue, only federal activity is shown. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
U.S. Department of Homeland Security's Disaster Grants Public Assistance (Presidentially Declared Disaster) expenditures are recognized when the Federal Emergency Management Administration (FEMA) approves the Towns project worksheet (PW) and the Town has incurred the eligible expenditures. The amounts reported in the Schedule include $341,696 of expenditures incurred in prior fiscal years but awarded by FEMA in the current fiscal year.