Notes to SEFA
Title: Summary of Significant Accounting Policies and Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported
on the modified accrual basis of accounting.
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
for the year ended December 31, 2023.
The accompanying schedule of expenditures of federal awards includes the federal award activity of the Town
of Hayden, Colorado (the Town) under programs of the federal government for the year ended December 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). 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.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the schedule are reported
on the modified accrual basis of accounting.
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
for the year ended December 31, 2023.
The Town did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance
for the year ended December 31, 2023. (See page 88)