Notes to SEFA
Title: Note 1 General
Accounting Policies: Expenditures reported on the Schedules are presented using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and State of New Jersey, Department of Human Services Cost Reimbursement Manual and State of New Jersey, Department of Children and Families 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 and state financial assistance activities of the Organization under programs of the federal and state governments for the year ended June 30, 2022. The information in these Schedules is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and State of New Jersey Circular Letter 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.