I believe this was all covered previously. The Town basically acts as a pass through for the Americorps Grants which means that the Town fronts the money for the expenses and is reimbursed when the grant funds are released which nets to 0 expense for the Town. At least in theory because there is the loss of use of those funds between outlay and reimbursement.
However, I do believe these should be reflected on the expense and revenue sides of the budget and not just left out, just like the County reflects such transactions in its budget.