Notes to SEFA
Title: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the modified accrual basis ofaccounting. The information in this schedule is presented in accordance with the requirements of the UniformGuidance. The accompanying schedule of expenditures of Federal awards includes the Federal grant activity ofthe Town and is presented on the cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Town elected not to use the 10% De Minimis indirect cost rate as covered in 2 CFR Part 200 Sections 414“Indirect (F&A) Costs.”
No awards were passed through to subrecipients during the fiscal year