Notes to SEFA
Title: Note 1 – Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in Uniform
Guidance and/or OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal
Governments wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Negative amounts shown on the Schedule represent adjustments or
credits made in the normal course of business to amounts reported as expenditures in
prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Town of Hamden, Connecticut did not recover its indirect costs using the 10% de
minimis direct cost rate provided under Section 200.41, of the Uniform Guidance rules.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”)
includes the federal award activity of the Town of Hamden under programs of the federal
government for the year ended June 30, 2023. 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 operations of the Town of Hamden, Connecticut, it is not
intended to and does not present the financial position, changes in net assets or cash
flows of the Town of Hamden, Connecticut.
Title: Note 2 – Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in Uniform
Guidance and/or OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal
Governments wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Negative amounts shown on the Schedule represent adjustments or
credits made in the normal course of business to amounts reported as expenditures in
prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Town of Hamden, Connecticut did not recover its indirect costs using the 10% de
minimis direct cost rate provided under Section 200.41, of the Uniform Guidance rules.
Expenditures reported on the Schedule are reported on the accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in Uniform
Guidance and/or OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal
Governments wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Negative amounts shown on the Schedule represent adjustments or
credits made in the normal course of business to amounts reported as expenditures in
prior years. Pass-through entity identifying numbers are presented where available.
Title: Note 3 – Indirect Cost Recovery
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in Uniform
Guidance and/or OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal
Governments wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Negative amounts shown on the Schedule represent adjustments or
credits made in the normal course of business to amounts reported as expenditures in
prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Town of Hamden, Connecticut did not recover its indirect costs using the 10% de
minimis direct cost rate provided under Section 200.41, of the Uniform Guidance rules.
The Town of Hamden, Connecticut did not recover its indirect costs using the 10% de
minimis direct cost rate provided under Section 200.41, of the Uniform Guidance rules.