Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes thefederal award activity of the Town of Kingston, Massachusetts (the Town) under programs ofthe federal government for the year ended June 30, 2022. The information in the Schedule ispresented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of the operations of the Town it is not intended to and does not present thefinancial position, changes in net position, or cash flows of the Town.? Expenditures reported on the Schedule are reported on the modified accrual basis ofaccounting. Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or are limited toreimbursement.? The amounts reported for the National School Lunch Program NonCash Assistancerepresent the fair value of commodities received.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.