Notes to SEFA
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of the Town of Bethlehem, New York (Town) under programs of the federal government or passthrough entities for the year ended December 31, 2025. 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, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Town.
Expenditures reported on the Schedule are reported on the modified 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
The Town has elected not to use the 15% de minimis indirect cost rate allowed under the Uniform Guidance