Notes to SEFA
Accounting Policies: EXPENDITURES REPORTED IN THE SEFSA ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN UINIFORM GUIDANCE, WHEREIN ERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: N
Rate Explanation: THE TOWN OF SPARTA HAS ELECTED NOT TO USE THE 10% DE MINIMIS INDIRECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.