Notes to SEFA
Title: Note 1 - Basis of Accounting
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the East Franklin Township and is presented on the cash basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the Schedules.
De Minimis Rate Used: N
Rate Explanation: The Township elected not to use the 10% de minimis indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the East Franklin Township and is presented on the cash basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the Schedules.
Title: Note 2 - Budgetary Data
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the East Franklin Township and is presented on the cash basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the Schedules.
De Minimis Rate Used: N
Rate Explanation: The Township elected not to use the 10% de minimis indirect cost rate.
The Township passed and had approved by the appropriate agency budgets for the fiscal year ending December 31, 2024 for all federal programs.
Title: Note 3 - De Minimis Rate for Indirect Costs
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the East Franklin Township and is presented on the cash basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the Schedules.
De Minimis Rate Used: N
Rate Explanation: The Township elected not to use the 10% de minimis indirect cost rate.
East Franklin Township has elected to not use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.