Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the accompanying schedule of expenditures of federal awards are reported in accordance with generally accepted accounting principles (GAAP).
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the ten percent (10%) de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Jackson Township Volunteer Fire Company and is presented on the accrual basis of accounting. 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).
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the accompanying schedule of expenditures of federal awards are reported in accordance with generally accepted accounting principles (GAAP).
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the ten percent (10%) de minimis indirect cost rate.
Expenditures reported on the accompanying schedule of expenditures of federal awards are reported in accordance with generally accepted accounting principles (GAAP).