Notes to SEFA
The accompanying schedule of expenditures of federal awards
includes federal awards activity of the Town of Hulett under
programs fo the federal government for the year ended
June 30, 2025. The information in this schedule is presented in
in accordance with requirements of Title 2 U.S. Code of
Fedederal Regulations, Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for
Federal Awards (Uniform Guidance). Because the Schedule
presents only a select portion of the operations of the Town of
Hulett, it is not intended to and does not
present the changes in net assets of the Town of Hulett.
Expenditures reported on the schedule are reported on the
cash basis of accounting. Such expenditures are recognized
when the disbursements are made.
The Town of Hulett has elected to use the 10 % de minimis
inderect cost rate as allowed under the Uniform Guidance.