Notes to SEFA
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual
De Minimis Rate Used: N
Rate Explanation: The Twon did not elect indirect costs.
Expenditures reported on the Schedule are reported on the modified accrual
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual
De Minimis Rate Used: N
Rate Explanation: The Twon did not elect indirect costs.
basis of accounting. Such expenditures are recognized following the cost
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual
De Minimis Rate Used: N
Rate Explanation: The Twon did not elect indirect costs.
principles contained in the Uniform Guidance, wherein certain types of
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual
De Minimis Rate Used: N
Rate Explanation: The Twon did not elect indirect costs.
expenditures are not allowable or are limited as to reimbursement. Negative
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual
De Minimis Rate Used: N
Rate Explanation: The Twon did not elect indirect costs.
amounts shown on the Schedule represent adjustments or credits made in the
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual
De Minimis Rate Used: N
Rate Explanation: The Twon did not elect indirect costs.
normal course of business to amounts reported as expenditures in prior years.
Title: Note 3. Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual
De Minimis Rate Used: N
Rate Explanation: The Twon did not elect indirect costs.
Town of Froid, Montana has elected not to use the 10-percent de minimis
Title: Note 3. Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual
De Minimis Rate Used: N
Rate Explanation: The Twon did not elect indirect costs.
indirect cost rate allowed under the Uniform Guidance