Notes to SEFA
Accounting Policies: (1) FEDERAL EXPENDITURES
The Schedule of Expenditures of Federal Awards reflects federal expenditures for all individual grants which
were active during the fiscal year.
(2) BASIS OF ACCOUNTING
The Township uses the modified accrual method of recording transactions. Revenues are recorded when
measurable and available. Expenditures are recorded when incurred.
(3) INDIRECT COSTS
The Township has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.