Notes to SEFA
BASIC FINANCIAL STATEMENTS The accounting policies of The Town conform to accounting principles generally accepted in the United States of America as applicable to state and local governments.
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS The accompanying schedule of expenditures of federal awards has been prepared on the accrual basis consistent with the preparation of the basic financial statements. Information included in the schedule of expenditures of federal awards is presented in accordance with the requirements Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). For cost reimbursement awards, revenues are recognized to the extent of expenditures. Expenditures have been recognized to the extent the related obligation was incurred within the applicable grant period and liquidated within 90 days after the end of the grant period. For performance-based awards, revenues are recognized to the extent of performance achieved during the grant period. The T
The following awards were made to subrecipients for the year ended June 30, 2025: Assistance Subrecipient Listing Number Amount Regional School District 11 dba Parish Hill High School 10.553 $ 11,272 Regional School District 11 dba Parish Hill High School 10.555 42,579 Regional School District 11 dba Parish Hill High School 10.185 369 Regional School District 11 dba Parish Hill High School 21.027 583 Total Federal Assistance passed through to subrecipients $ 54,803