Notes to SEFA
Title: Program Income
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Town and is presented on the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Town elected not to use the 10% De Minimis indirect cost rate as covered in 2 CFR Part 200 Sections 414 “Indirect (F&A) Costs.”
Of the federal expenditures and award amounts presented in the Schedule of Expenditures of Federal Awards, the Town included program income as follows: Child Nutrition Cluster $474,084