Notes to SEFA
Title: Loans Outstanding
Accounting Policies: Expenditures included 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. Passthrough entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Town of Peterborough has elected not to use the 10‐percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Town of Peterborough had an outstanding loan balance at June 30, 2024 from Assistance Listing No. 66.468: Capitalization Grants for Drinking Water State Revolving Fund of $2,889,874. The loans made during the fiscal year included the federal expenditures presented on Exhibit 22.
Title: Basis of Presentation
Accounting Policies: Expenditures included 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. Passthrough entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Town of Peterborough has elected not to use the 10‐percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Town of Peterborough 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 (CFR) 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 Town, it is not intended to, and does not, present the financial position or changes in net position of the Town of Peterborough.