Notes to SEFA
Title: NOTE 3 ‐ OTHER FEDERAL ASSISTANCE
Accounting Policies: Basis of Presentation
The accounting policies of the Town of Newtown, Connecticut, (the Town) conform to accounting principles
generally accepted in the United States of America as applicable to governmental organizations. The information in
the schedule of expenditures of federal awards 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 of expenditures of federal awards
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 fund balances, changes in net position or cash flows of the Town.
Basis of Accounting
The accompanying schedule of expenditures of federal awards has been prepared on the accrual basis consistent
with the preparation of the basic financial statements. Certain grants are not dependent on expenditure activity,
and accordingly, are considered to be expended in the fiscal year of receipt. These grant program receipts are
reflected in the expenditure column of the schedule of expenditures of federal awards.
De Minimis Rate Used: N
Rate Explanation: The Town has elected not to use the 10 percent de minimus indirect cost rate as allowed under the Uniform
Guidance. The Town has no federal awards for which an indirect cost rate is applicable.
The United States Department of Agriculture provides commodities to the Town’s schools. Amounts of $208,853
and $5,873 have been reflected in the expenditures column in the accompanying schedule of expenditures of
federal awards, which represents the fair market value of donated commodities received under the National School
Lunch Program and the Child and Adult Care Food Program, respectively, during the year ended June 30, 2024.
See the Notes to the SEFA for chart/table.
No other federal assistance was received in the form of loans, loan guarantees or insurance.