Notes to SEFA
Title: General
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. Under the accrual basis of accounting, revenues are recorded when realized.
De Minimis Rate Used: N
Rate Explanation: The Township did not use the federal de minimis indirect cost rate of 10% on their federal grants for the year ended December 31, 2024.
The accompanying schedule of expenditures of federal awards presents the activity of all federal awards of the Township of Abington, Abington, Pennsylvania. The Township’s reporting entity is defined in Note 1 of the Township’s financial statements. All federal awards received are included in the schedule.
Title: Scope of this Schedule
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. Under the accrual basis of accounting, revenues are recorded when realized.
De Minimis Rate Used: N
Rate Explanation: The Township did not use the federal de minimis indirect cost rate of 10% on their federal grants for the year ended December 31, 2024.
The schedule of expenditures of federal award reflects federal expenditures for all individual grants which were active during the fiscal year. Expenditures incurred under the Disaster Grants - Public Assistance are recognized in the period in which they are accepted for reimbursement by the federal government. Accordingly, the schedule of expenditures of federal awards for the year ended December 31, 2024 reflected expenditures incurred from August 2022 through December 31, 2023, which were reported to the federal government in 2024.