Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Benton Charter Township (the Charter Township) under programs of the federal government for the year ended December 31, 2022. The information in the 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 (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Charter Township, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Charter Township. As the expenditures reported in the Schedule are solely related to ALN 66.458, Capitalization Grants for Clean Water State Revolving Funds (CWSRF) program, those expenditures are reported on cash basis in accordance with the subrecipient reporting guidelines outlined in the 2022 OMB Compliance Supplement for ALN 66.458. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The pass-through entity identifying numbers are presented where available. The Charter Township has elected not to use the 10 percent de minimis indirect cost rate to recover indirect costs as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.