Notes to SEFA
Title: ASSISTANCE LISTING NUMBERS
Accounting Policies: Basis of Accounting - The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200. The Schedule is prepared using the same accounting policies and basis of accounting as the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Town has not elected to use the 10% de minimis indirect cost rate.
Title 2 U.S. Code of Federal Regulations Part 200 requires the Schedule to show the total
expenditures for each of the Town’s federal financial assistance programs as identified by
Assistance Listing number. The Assistance Listing is a government-wide compendium of
individual federal programs which assigns a five-digit program identification Assistance Listing
number to each federal program.
Title: MAJOR PROGRAMS
Accounting Policies: Basis of Accounting - The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200. The Schedule is prepared using the same accounting policies and basis of accounting as the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Town has not elected to use the 10% de minimis indirect cost rate.
Title 2 U.S. Code of Federal Regulations Part 200 establishes the levels of expenditures or
expenses and other criteria to be used in defining major programs. Major programs have been
noted in the Schedule of Findings and Questioned Costs in accordance with those definitions.