Notes to SEFA
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial assistance present the activity of all federal and state financial assistance programs of the Town of West New York. The Township is defined in Note 1 to the Township financial statements. To the extent identified, the federal and state financial assistance that passed through other governmental agencies is included on the schedules of expenditures of federal awards and state financial assistance. The accompanying schedule of expenditures of federal awards and state financial assistance is presented using the regulatory basis of accounting prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, which is described in Note 1, Summary of Significant Accounting Policies, of the Townships financial statements. The information in the schedule of expenditures of federal awards and state financial assistance is presented in accordance with the OMB Uniform Guidance and New Jersey OMB 1508.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.