Notes to SEFA
Title: 1. Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported on the GAAP 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. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source for the data presented. The Town has not elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Reporting Entity
The accompanying Schedule of Expenditures of Federal Awards (the schedule) includes the federal award activity of the Town of Greece, Monroe County, New York (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 Requirement’s, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the Town, it is not intended to and does not present the financial position, of the governmental activities, the aggregate discretely presented component unit, each major fund, and the aggregate remaining fund information of the Town.
Pass-Through Programs
Where the Town receives funds from a government entity other than the federal government (pass-through), the funds are accumulated based upon the Catalog of Federal Domestic Assistance (CFDA) number advised by the pass-through grantor.
Identifying numbers, other than CFDA numbers, which may be assigned by pass-through grantors are not maintained in the Town’s financial management system. Where the Town has identified pass-through identifying numbers they are included in the schedule of expenditures of federal awards.
Title: 4. Matching Costs
Accounting Policies: Expenditures reported on the schedule are reported on the GAAP 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. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source for the data presented. The Town has not elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Matching costs, i.e., the Town’s share of certain program costs, are not included in the reported expenditures.
Title: 5. Subrecipients
Accounting Policies: Expenditures reported on the schedule are reported on the GAAP 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. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source for the data presented. The Town has not elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
The Town did not pass through any awards to subrecipients during the year.