Notes to SEFA
Title: NOTE 3 – U.S. DEPARTMENT OF AGRICULTURE PROGRAMS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the
Town of Mashpee, Massachusetts and is presented on the modified accrual basis of accounting. The
information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Expenditures are recognized following the cost
principles contained in the Uniform Guidance for all awards. Therefore, some amounts presented in this
schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: N/A
The amount reported for the National School Lunch Program – Non-Cash Assistance (Commodities)
represents non-monetary assistance and is reported in the schedule at the fair market value of the
commodities received. The amounts reported for the School Breakfast Program – Cash Assistance and
the National School Lunch Program – Cash Assistance represent cash receipts from federal
reimbursements.