Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles generally accepted in the United States and the amounts presented are derived from the Village’s general ledger.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent such costs are included in the federal financial reports used as the source for the data presented. The Village did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Village of Canisteo, New York (the Village) under programs of the federal
government for the year ended May 31, 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 the operations of the Village, it is not intended to and does not present the financial position or the respective changes in financial position of the governmental activities, business-type activities, and each major fund of the Village.
Title: PASS-THROUGH PROGRAMS
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles generally accepted in the United States and the amounts presented are derived from the Village’s general ledger.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent such costs are included in the federal financial reports used as the source for the data presented. The Village did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Where the Village receives funds from a government entity other than the federal government (pass- through), the funds are accumulated based upon the Assistance Listing number advised by the pass-through grantor.
Identifying numbers, other than Assistance Listing numbers, which may be assigned by pass-through grantors are not maintained in the Village’s financial management system. The Village has identified certain pass-through identifying numbers and included them in the Schedule, as available.
Title: MATCHING COSTS
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles generally accepted in the United States and the amounts presented are derived from the Village’s general ledger.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent such costs are included in the federal financial reports used as the source for the data presented. The Village did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Matching costs, i.e., the Village’s share of certain program costs, are not included in the reported expenditures.