Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the Schedules are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and the State of New Jersey, Department of Human Services Cost Reimbursement Manual, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedules of expenditures of federal awards and state financial assistance (the "Schedules") include the federal awards and state financial assistance activity of the Organization under programs of the federal and state government for the year ended September 30, 2023. The information in these Schedules is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance") and State of New Jersey, Policy Circular 15-08-OMB, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid (the “Circular”). Because the Schedules present only a selected portion of the operations of the Organization, they are not intended to and do not present the financial position, change in net assets or cash flows of the Organization.