Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Town of Elba, New York and is presented on the Modified Accrual Basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Federal grants received by the Town are subject to audit and adjustment. If any expenditure is disallowed by the granter agencies as a result of such audit, the granter agencies could make claims to reimbursement, which would become a liability of the Town of Elba, New York.
De Minimis Rate Used: N
Rate Explanation: The Town did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Indirect costs may be included in the reported expenditures to the extent that they are included in the federal financial reports used as the source for the data presented. The Town's policy is not to charge federal award programs with indirect costs.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity
of the Town of Elba, New York under programs of the federal government for the year ended December 31 , 2021 .
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 the operations of the Town
of Elba, New York, is not intended to and does not present the financial position and changes in net position for the
Town of Elba, New York.
Title: Note 2 -- Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Town of Elba, New York and is presented on the Modified Accrual Basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Federal grants received by the Town are subject to audit and adjustment. If any expenditure is disallowed by the granter agencies as a result of such audit, the granter agencies could make claims to reimbursement, which would become a liability of the Town of Elba, New York.
De Minimis Rate Used: N
Rate Explanation: The Town did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Indirect costs may be included in the reported expenditures to the extent that they are included in the federal financial reports used as the source for the data presented. The Town's policy is not to charge federal award programs with indirect costs.
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Town of
Elba, New York and is presented on the Modified Accrual Basis of accounting. The information in this schedule is
presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in
this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
Federal grants received by the Town are subject to audit and adjustment. If any expenditure is disallowed by the
granter agencies as a result of such audit, the granter agencies could make claims to reimbursement, which would
become a liability of the Town of Elba, New York.
The Town did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Indirect
costs may be included in the reported expenditures to the extent that they are included in the federal financial
reports used as the source for the data presented. The Town's policy is not to charge federal award programs with
indirect costs.
Title: Note 3 - Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Town of Elba, New York and is presented on the Modified Accrual Basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Federal grants received by the Town are subject to audit and adjustment. If any expenditure is disallowed by the granter agencies as a result of such audit, the granter agencies could make claims to reimbursement, which would become a liability of the Town of Elba, New York.
De Minimis Rate Used: N
Rate Explanation: The Town did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Indirect costs may be included in the reported expenditures to the extent that they are included in the federal financial reports used as the source for the data presented. The Town's policy is not to charge federal award programs with indirect costs.
Of the federal expenditures presented in the Schedule of Expenditures of Federal Awards, the Town of Elba, New York provided no federal awards to subrecipients.