Notes to SEFA
Title: Note A - 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. The schedule of expenditures of federal awards reflect federal expenditures for all individual grants, which were active during the fiscal year.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
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 B - Federal Expenditures
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. The schedule of expenditures of federal awards reflect federal expenditures for all individual grants, which were active during the fiscal year.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The schedule of expenditures of federal awards reflects federal expenditures for all individual
grants, which were active during the fiscal year.
Title: Note C - 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. The schedule of expenditures of federal awards reflect federal expenditures for all individual grants, which were active during the fiscal year.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Township has not elected to use the 10% de minimis indirect cost rate as allowed in the
Uniform Guidance, Section 414.