Notes to SEFA
Title: Note A - General
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting, which is described in Note A to the Township’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Township has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, section 414.
The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance programs of the Township of Haverford. The Township reporting entity is defined in Note A to the Township’s basic financial statements. Federal financial assistance received directly from federal agencies as well as federal financial assistance passed through other governmental agencies is included on the schedule.
Title: Note B - Basis of Accounting
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting, which is described in Note A to the Township’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Township has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, section 414.
The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting, which is described in Note A to the Township’s basic financial statements.
Title: Note C - Relationship to Basic Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting, which is described in Note A to the Township’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Township has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, section 414.
Federal financial assistance revenues are reported in the Township’s financial statements in the General Fund and nonmajor funds.
Title: Note D - Indirect Cost Rates
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting, which is described in Note A to the Township’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Township has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, section 414.
The Township has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, section 414.