Notes to SEFA
Title: Subrecipients
Accounting Policies: The accompanying schedules of expenditures of federal and state awards includes the federal and stategrant activity, respectively, of the New Jersey Symphony Orchestra and are presented on the accrualbasis of accounting. The information in the schedules is presented in accordance with the requirementsof Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards and New Jersey Office of Management andBudget Circular Letter 15-08. Therefore, some amounts presented in these schedules may differ fromamounts presented in, or used in the preparation of, the consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the year ended August 31, 2022, the Organization did not provide any funds relating to its federal or state programs to subrecipients.
Title: LOAN AND LOAN GUARANTEE PROGRAMS
Accounting Policies: The accompanying schedules of expenditures of federal and state awards includes the federal and stategrant activity, respectively, of the New Jersey Symphony Orchestra and are presented on the accrualbasis of accounting. The information in the schedules is presented in accordance with the requirementsof Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards and New Jersey Office of Management andBudget Circular Letter 15-08. Therefore, some amounts presented in these schedules may differ fromamounts presented in, or used in the preparation of, the consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
As of August 31, 2022, the Organization did not have any federal loan or loan guarantee programs.