Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance programs of the Township of Haverford. The Township reporting entity is defined in Note A to the Townships basic financial statements. Federal financial assistance received directly from federal agencies as well as federal financial assistance passed through other governmental agencies is included on the schedule. The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting, which is described in Note A to the Townships basic financial statements. Federal financial assistance revenues are reported in the Townships financial statements in the General Fund and nonmajor funds.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.