Notes to SEFA
The Schedule of Expenditures of the Federal Awards is a supplementary schedule to the financial
statements. The Schedule is required by the U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Henefer Town (“Town”), it is not intended to and does not present the financial position, changes in the financial position, or cash flows of the Town.
The information in the schedule is presented in accordance with the Uniform Guidance. The schedule is prepared using the same accounting policies and basis of accounting as the financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Uniform Guidance requires the schedule to show the total expenditures for each of the entity’s federal financial assistance programs with the corresponding federal assistance listing numbers.
The Town did not have any subrecipients for the year ending June 30, 2025.
Uniform Guidance establishes the levels of expenditures or expenses and other criteria to be used in defining major federal financial assistance. The federal awards tested as major programs were those with federal assistance listing number 66.468.
The Town has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance and did not charge any indirect costs on federal awards.