Notes to SEFA
Title: Basis of Presentaion
Accounting Policies: OMB Compliance Supplement
De Minimis Rate Used: N
Rate Explanation: Not applicable to these grant awards
The accompanying Schedule of Expenditures of Federal Awards has been prepared in the format as set forth in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. The Schedule is presented using the accrual basis of accounting. It includes all Federal awards to the Town which had expenditure activity during the year ended June 30, 2024. Several programs are jointly funded by local appropriations in addition to Federal Awards. The Schedule reflects only that part of the grant activity funded by Federal Awards. The Town has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Scope of the Audit Pursant to the Uniform Guidance
Accounting Policies: OMB Compliance Supplement
De Minimis Rate Used: N
Rate Explanation: Not applicable to these grant awards
The Schedule of Expenditures of Federal Awards (the “Schedule”) presents the activity of all Federal award programs of the Town. All Federal awards are received directly from Federal agencies as well as Federal awards passed through other government agencies or other entities are included in the schedule.
Title: Catalog of Federal Domestic Assistance CFDA Numbers
Accounting Policies: OMB Compliance Supplement
De Minimis Rate Used: N
Rate Explanation: Not applicable to these grant awards
The program titles and CFDA numbers were obtained from the 2021 Catalog of Federal Domestic Assistance.