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TOWN OF MASHPEE, MASSACHUSETTS <br /> NOTES TO FINANCIAL STATEMENTS <br /> JUNE 30, 1981 <br /> r <br /> b) Federal Disaster Assistance - The Town is the <br /> recipient of a Federal grant from the Department <br /> of Housing and Urban Development for necessary <br /> repairs as a result of the Storm Disaster of 1978. <br /> The Town has received formal grant approval of <br /> $50,395; as of June 30, 1981, the Town has incurred <br /> Expenditures of $26,177 . The ultimate acceptance <br /> , of expenditures which qualify for grant reimbursement <br /> are subject to a final audit conducted by the Department i <br /> of Housing and Urban Development. The amount of funds <br /> provided by the Federal government and related <br /> expenditures of funds by the Town are recorded on the <br /> cash basis. <br /> (3) Trust Funds <br /> These funds provide an accounting for money received <br /> and held by the Town as trustee for individuals and <br /> governmental accounts. <br /> (4) General Long-Term Debt Accounts <br /> These accounts represent the liabilities for long- <br /> term debt and retirement thereof. Under the provisions <br /> of state statutes, the Town is reimbursed for a portion <br /> of the debt service requirements which was incurred to <br /> finance school construction. Such reimbursements are <br /> included in General Fund revenue. <br /> II. LOANS AUTHORIZED AND UNISSUED <br /> Loans authorized and unissued consisted of the following: <br /> _General Fund $ 6,600 <br /> i <br /> Special Revenue Fund 24,197 <br /> Federal Disaster Relief $30,797 11 <br /> 1 <br /> I' <br /> 21 - q <br /> Gv1RLES E.DIPESA&CO.,BOSTON,MASS.(617)423-3555 <br />