Notes to SEFA
Title: Basis of presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified
accrual 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.
De Minimis Rate Used: N
Rate Explanation: The auditee 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 (“Schedule”) includes the federal award activity of the Town of Fairfield, Connecticut (“Town”) under programs of the federal government. 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”).
Title: Basis of presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified
accrual 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.
De Minimis Rate Used: N
Rate Explanation: The auditee has elected not to use the 10 percent de minimis indirect cost rate as allowed under the 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, changes in net position, changes in fund balance, or cash flows of the Town.
Title: Noncash federal award
Accounting Policies: Expenditures reported on the Schedule are reported on the modified
accrual 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.
De Minimis Rate Used: N
Rate Explanation: The auditee has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance
The Town received and expended the following noncash awards: USDA donated commoditities: National School Lunch Program $230,833 and Fresh Fruit and Vegetable Program $173,715.