Notes to SEFA
Title: Note 2 Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards for the year ended June 30, 2022, presents the federal awards activity of New Jersey Performing Arts Center Corporation (NJPAC) and is presented on an accrual basis. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the NJPACs consolidated financial statements. The federal awards expenditures for one of NJPACs subsidiaries, Hip Hop Nutcracker Tour, LLC (HHNT), in the amount of $985,652, have not been included in the accompanying schedule of expenditures of federal awards (SEFA) for the year ended June 30, 2022. HHNTs federal awards expenditures have been included in HHNTs SEFA, which is included in its separate Uniform Guidance single audit for the year ended June 30, 2022.NJPAC has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Indirect costs are allocated to the grant within the Schedule in accordance with the contractual provisions of the grant, if applicable.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
NJPAC did not pass through any federal awards to subrecipients during the year ended June 30, 2022.