Notes to SEFA
Title: BASIS OF ACCOUNTING
Accounting Policies: All expenditures included in the schedule of expenditures of federal awards are presented on the basis that expenditures are reported to the respective federal grantor agencies. Accordingly, certain expenditures are recorded when paid and certain other expenditures are recorded when the federal obligation is determined.
De Minimis Rate Used: N
Rate Explanation: The Township has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. For the year ended December 31, 2024, there were no indirect costs included in the schedule of expenditures of federal awards.
All expenditures included in the schedule of expenditures of federal awards are presented on the basis that expenditures are reported to the respective federal grantor agencies. Accordingly, certain expenditures are recorded when paid and certain other expenditures are recorded when the federal obligation is determined.
Title: INDIRECT COST
Accounting Policies: All expenditures included in the schedule of expenditures of federal awards are presented on the basis that expenditures are reported to the respective federal grantor agencies. Accordingly, certain expenditures are recorded when paid and certain other expenditures are recorded when the federal obligation is determined.
De Minimis Rate Used: N
Rate Explanation: The Township has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. For the year ended December 31, 2024, there were no indirect costs included in the schedule of expenditures of federal awards.
The Township has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. For the year ended December 31, 2024, there were no indirect costs included in the schedule of expenditures of federal awards.