Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual and modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, OMB Circular A-87 Cost Principles for State, Local and Indian Tribal Governments where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Township of Grosse Ile has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Township of Grosse Ile under programs of the federal government for the year ended March 31, 2024. 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). Because the Schedule presents only a selected portion of the operations of the Township of Grosse Ile, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Township of Grosse Ile.
Title: Reconciliation to the Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual and modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, OMB Circular A-87 Cost Principles for State, Local and Indian Tribal Governments where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Township of Grosse Ile has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Governmental activities $1,996,121
Business-type activities 5,742,072
Federal grant revenue per audited financial statements 7,738,193
Grant revenue not included on SEFA, but grouped with federal grants on the financial statements (1,030,897)
Expenditures of federal awards per SEFA $6,707,296
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual and modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, OMB Circular A-87 Cost Principles for State, Local and Indian Tribal Governments where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Township of Grosse Ile has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
No amounts were provided to subrecipients.