Notes to SEFA
Accounting Policies: a) Basis of Accounting – The accompanying Schedule of Expenditures of Federal Awards is presented on the modified accrual basis of accounting. Accordingly, expenditures are recognized when the liability is incurred. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
b) Cash Assistance – National School Lunch Program and School Breakfast Program – Program expenditures represent federal reimbursements received for meals provided during the year.
c) Non-Cash Assistance (Commodities) – National School Lunch Program – Program expenditures represent the value of donated foods received during the year.
d) Disaster Grants have been recorded in the year the grant was approved.
De Minimis Rate Used: N
Rate Explanation: The City of Greenfield, Massachusetts has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.