Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of the Town of Carlisle, South Carolina under programs of the federal government for the year ended June 30, 2024 and has been prepared in accordance with accounting principles generally accepted in the United States of America. 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). Because the Schedule presents only a selected portion of the operations of the Town of Carlisle, South Carolina, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Town of Carlisle, South Carolina.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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. Amounts included in the Schedule are actual expenditures for the year ended June 30, 2024. Differences between amounts included in the Schedule and amounts reported to funding agencies for these programs result from report timing.
The Town of Carlisle, South Carolina has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.