Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
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.
Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in
the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Town of Woodbury has elected not to use the 10% de minimis indirect cost rate provided under
Section 200.414 of the Uniform Guidance.