Title: Note 1 - General Information
Accounting Policies: The accompanying schedule of expenditures of federal awards and expenditures of state financial assistance (the "Schedule") includes the federal and state grant activity of 4Cs of Passaic County, Inc. and is presented on the accrual basis of accounting. The information in this schedule 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 NJ OMB 15-08. Because the Schedule presents only a selected portion of the operations of 4Cs of Passaic County, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of 4Cs of Passaic County, Inc.
De Minimis Rate Used: N
Rate Explanation: 4Cs of Passaic County, Inc. did not elect to use the ten percent de-minimis cost rate.
The accompanying schedule of expenditures of federal awards and expenditures of state financial assistance presents the activities in all the federal and state financial award programs of 4Cs of Passaic County, Inc. All financial awards received directly from federal agencies as well as financial awards passed through other governmental agencies or not-for-profit organizations are included on the schedule.
Title: Note 2 - Basis of Accounting
Accounting Policies: The accompanying schedule of expenditures of federal awards and expenditures of state financial assistance (the "Schedule") includes the federal and state grant activity of 4Cs of Passaic County, Inc. and is presented on the accrual basis of accounting. The information in this schedule 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 NJ OMB 15-08. Because the Schedule presents only a selected portion of the operations of 4Cs of Passaic County, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of 4Cs of Passaic County, Inc.
De Minimis Rate Used: N
Rate Explanation: 4Cs of Passaic County, Inc. did not elect to use the ten percent de-minimis cost rate.
The accompanying schedule of expenditures of federal awards and expenditures of state financial assistance (the "Schedule") includes the federal and state grant activity of 4Cs of Passaic County, Inc. and is presented on the accrual basis of accounting. The information in this schedule 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 NJ OMB 15-08. Because the Schedule presents only a selected portion of the operations of 4Cs of Passaic County, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of 4Cs of Passaic County, Inc.
Title: Note 3 - Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards and expenditures of state financial assistance (the "Schedule") includes the federal and state grant activity of 4Cs of Passaic County, Inc. and is presented on the accrual basis of accounting. The information in this schedule 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 NJ OMB 15-08. Because the Schedule presents only a selected portion of the operations of 4Cs of Passaic County, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of 4Cs of Passaic County, Inc.
De Minimis Rate Used: N
Rate Explanation: 4Cs of Passaic County, Inc. did not elect to use the ten percent de-minimis cost rate.
4Cs of Passaic County, Inc. did not elect to use the ten percent de-minimis cost rate.
Title: Note 4 - Relationship to Basic Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards and expenditures of state financial assistance (the "Schedule") includes the federal and state grant activity of 4Cs of Passaic County, Inc. and is presented on the accrual basis of accounting. The information in this schedule 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 NJ OMB 15-08. Because the Schedule presents only a selected portion of the operations of 4Cs of Passaic County, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of 4Cs of Passaic County, Inc.
De Minimis Rate Used: N
Rate Explanation: 4Cs of Passaic County, Inc. did not elect to use the ten percent de-minimis cost rate.
Federal and state award expenditures are reported on the statements of activities as functional and supporting expenses. In certain programs, the expenditures reported in the basic financial statements may differ from the expenditures reported in the schedule of expenditures of federal awards and expenditures of state financial assistance due to program expenditures exceeding grant limitations or capitalization policies required by GAAP.