Notes to SEFA
Accounting Policies: Note 1 The accompanying Schedule of Expenditures of Federal Awards includes the federal grant
activity of the Township, and is presented on the modified accrual basis of accounting. The
information in this schedule is presented in accordance with 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"). Therefore, some amounts
presented in this schedule may differ from amounts presented in, or used in, the basic financial
statements.
Note 2 Management has reported that expenditures in this Schedule of Expenditures of Federal Awards
are equal to or derived from amounts reported in the annual or final cost reports. Unallowed
differences, if any, have been disclosed to the auditor.
Note 3 The financial reports including claims for advances and reimbursements and amounts claimed or
used for matching, are timely, complete, accurate and contain information that is supported by
the books and records from which the basic financial statements have been prepared.
Note 4 Federal revenue in the fund financial statements is comprised of:
General Fund $ 400,405
Non major funds 59,067
Proprietary fund 1,210,000
Total Federal grants revenue reported in the basic financial
statements $ 1,669,472
Note 5 The Township did not use the 10% de-minimus cost rate under the Uniform Administrative
Requirements.
De Minimis Rate Used: N
Rate Explanation: The Township did not use the 10% de-minimus cost rate under the Uniform Administrative
Requirements.