Notes to SEFA
Accounting Policies: Note 1 Basis of PresentationThe schedule of expenditures of federal awards is presented in accordance with requirements of Title 2 U.S. Codeof Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards. Therefore some amounts presented in this schedule may differ from amountspresented in the financial statement.Note 2 Indirect Cost RateThe Town uses the deminis cost rate of 10% to allocate indirect costs.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.