Notes to SEFA
Title: NOTE A - ACCOUNTING BASIS
Accounting Policies: The accounting policies of The Town conform to accounting principles generally accepted in
the United States of America as applicable to state and local governments.
De Minimis Rate Used: N
Rate Explanation: The Town of Chaplin, Connecticut has not
elected to use the 10% de Minimis indirect cost rate.
BASIC FINANCIAL STATEMENTS
The accounting policies of The Town conform to accounting principles generally accepted in
the United States of America as applicable to state and local governments.
Title: NOTE A - ACCOUNTING BASIS
Accounting Policies: The accounting policies of The Town conform to accounting principles generally accepted in
the United States of America as applicable to state and local governments.
De Minimis Rate Used: N
Rate Explanation: The Town of Chaplin, Connecticut has not
elected to use the 10% de Minimis indirect cost rate.
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
The accompanying schedule of expenditures of federal awards has been prepared on the
accrual basis consistent with the preparation of the basic financial statements. Information
included in the schedule of expenditures of federal awards is presented in accordance with the
requirements Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform
Guidance). For cost reimbursement awards, revenues are recognized to the extent of
expenditures. Expenditures have been recognized to the extent the related obligation was
incurred within the applicable grant period and liquidated within 90 days after the end of the
grant period. For performance-based awards, revenues are recognized to the extent of
performance achieved during the grant period. The T
Title: NOTE B - SUBRECIPIENTS
Accounting Policies: The accounting policies of The Town conform to accounting principles generally accepted in
the United States of America as applicable to state and local governments.
De Minimis Rate Used: N
Rate Explanation: The Town of Chaplin, Connecticut has not
elected to use the 10% de Minimis indirect cost rate.
The following awards were made to subrecipients for the year ended June 30, 2024:
Assistance
Subrecipient Listing Number Amount
Regional School District 11 dba
Parish Hill High School 10.560 $ 6,608
Regional School District 11 dba
Parish Hill High School 10.553 23,600
Regional School District 11 dba
Parish Hill High School 10.555 53,459
Regional School District 11 dba
Parish Hill High School 10.649 653
Regional School District 11 dba
Parish Hill High School 21.027 25,498
Total Federal Assistance passed through to subrecipients $ 109,818