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TOWN OF MASHPEE, MASSACHUSETTS <br /> NOTES TO FINANCIAL STATEMENTS <br /> JUNE 30, 1980 <br /> a) Federal Revenue Sharing - This fund <br /> reflects the revenues received by the <br /> Town under the Federal Revenue Sharing <br /> Program. The appropriations and <br /> disbursements of such funds are made in <br /> accordance with Federal guidelines . <br /> • The funds were expended as follows : <br /> General Government $ 5, 393 <br /> Public Safety 83 ,044 <br /> Highway 4,160 <br /> Miscellaneous and <br /> Unclassified 2 ,267 <br /> TOTAL $94,864 <br /> b) Federal Disaster Assistance - The Town is <br /> the recipient of a Federal grant from the <br /> Department of Housing and Urban Development <br /> for necessary repairs as a result of the <br /> Storm Disaster of 1978. The Town has <br /> received formal grant approval of $50,395 ; <br /> as of June 30, 1980, the Town has incurred <br /> Expenditures of $26,177 . The ultimate <br /> acceptance of expenditures which qualify <br /> for grant reimbursement are subject to a <br /> final audit conducted by the Department of <br /> Housing and Urban Development. The amount <br /> of funds provided by the Federal government <br /> and related expenditures of funds by the <br /> Town are recorded on the cash basis. <br /> (3) Trust Funds <br /> These funds provide an accounting for money <br /> received and-held by the Town as trustee for <br /> individuals and governmental accounts. <br /> L - <br /> 21 - <br /> CHARLES E.DFESA&Co.,BOSTON.MASS.(617)423-3555 <br />