Notes to SEFA
Accounting Policies: a) Basis of Accounting – The accompanying Schedule of Expenditures of Federal Awards is presented on the modified accrual basis of accounting. Accordingly, expenditures are recognized when the liability is incurred. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
b) Cash Assistance – School Breakfast and Lunch Program – Program expenditures represent federal reimbursement for meals provided during the year.
c) Non-Cash Assistance (Commodities) – School Lunch Program – Program expenditures represent the value of donated foods received during the year.
d) Disaster grants have been recorded the year the grant was approved
De Minimis Rate Used: N
Rate Explanation: The Town of Westwood, Massachusetts has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.