Title: Basis of Presentation
Accounting Policies: See Notes on Tab 2
De Minimis Rate Used: N
Rate Explanation: The de minimus rate did not apply to any federal grant
The Schedule of Expenditures of Federal Awards (“the Schedule”) includes the federal grant activity of the Town of Brattleboro, Vermont (the Town), under programs of the federal government for the year ended June 30, 2024. 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flow of the Town.
Title: Basis of Accounting
Accounting Policies: See Notes on Tab 2
De Minimis Rate Used: N
Rate Explanation: The de minimus rate did not apply to any federal grant
Expenditures reported on the Schedule are presented on the same basis of accounting as the Town’s financial statements. The Organization uses the accrual basis of accounting. Expenditures represent only the federally funded portions of the program. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
Title: Basis of Accounting
Accounting Policies: See Notes on Tab 2
De Minimis Rate Used: N
Rate Explanation: The de minimus rate did not apply to any federal grant
Pass-through entity identifying numbers are presented where available.
Title: Program Costs
Accounting Policies: See Notes on Tab 2
De Minimis Rate Used: N
Rate Explanation: The de minimus rate did not apply to any federal grant
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs could be more than shown. Such expenditures are recognized following, as applicable, the cost principles in the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, Audit Requirements, wherein certain types of expenditures are not allowable or are limited to reimbursement.
Title: Major Programs
Accounting Policies: See Notes on Tab 2
De Minimis Rate Used: N
Rate Explanation: The de minimus rate did not apply to any federal grant
In accordance with OMB Uniform Guidance, major programs are determined using a risk-based approach. The programs listed below are determined by the independent auditor to be major programs.
Title: Indirect Cost Rate
Accounting Policies: See Notes on Tab 2
De Minimis Rate Used: N
Rate Explanation: The de minimus rate did not apply to any federal grant
The Organization has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Subrecipients
Accounting Policies: See Notes on Tab 2
De Minimis Rate Used: N
Rate Explanation: The de minimus rate did not apply to any federal grant
Of the federal expenditures presented in the schedule, the Town of Brattleboro, Vermont had subrecipient awards in the amount of $1,168,447 to Windham Windsor Housing Trust ($625,527) and Community Development Support, Inc. (542,920).