Notes to SEFA
Accounting Policies: 1. SIGNIFICANT ACCOUNTING POLICIES
Organization
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Town of
Whitestown, New York, an entity defined in Note I to The Town’s financial statements under programs of the federal government
for the year ended December 31, 2022. 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 Town of
Whitestown, New York, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the
Town of Whitestown, New York.
Basis of Accounting
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following
the cost principles contained in Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to
reimbursement. The amounts reported as federal expenditures were obtained from the financial records detail, which is the source
of the financial statements.
2. De Minimis Indirect Cost Rate
The Town of Whitestown, New York has not elected to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: 2. De Minimis Indirect Cost Rate
The Town of Whitestown, New York has not elected to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.