Notes to SEFA
Accounting Policies: The Town of Brattleboro, Vermont (the Town), is organized according to Vermont State Law and Town Charter, under the governance of a 5 member Selectboard to provide the following services for the Town of Brattleboro: public health and safety-police and fire, highways and streets, water, health and social services, culture and recreation, public improvements, sanitation, planning, zoning and general administration services. The Towns financial statements are prepared in accordance with generally accepted accounting principles (GAAP). The Governmental Accounting Standards Board (GASB) is primarily responsible for establishing GAAP for state and local governments through its pronouncements (including Statements and Interpretations). The more significant accounting policies established in GAAP and used by the Town are discussed below.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.