Notes to SEFA
Title: FEDERAL EXPENDITURES
Accounting Policies: The Town uses the modified accrual method of recording transactions. Revenues are recorded when measurable and available. Expenditures are recorded when incurred.
De Minimis Rate Used: N
Rate Explanation: The Town has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards reflects federal expenditures for all individual grants which were active during the fiscal year.