Audit 306625

Title: General Accounting Policies: The accompanying schedule of expenditures of federal awards as required by the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform and Guidance) and related notes to the schedule of federal awards is presented for purposes of additional analysis and is not a required part of the basic financial statements. The schedule of expenditures of federal awards and related notes are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements, or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. De Minimis Rate Used: N Rate Explanation: The Township has elected not to use the 10-percent de minimis indirect cost rate allowable under the Uniform Guidance. The Township is reimbursed for programmatic and administrative costs in accordance with rules set forth by the Department of Education. In 2023, the Township did not claim administrative cost allowances. The accompanying schedule of expenditures of federal awards presents the activity of all federal awards programs of the Township of Wyckoff (“Township”). The Township is defined in Note 1 to the Township’s financial statements. To the extent identified, the federal awards that passed through other governmental agencies is included on the schedule of expenditures of federal awards.

Title: Basis of Accounting Accounting Policies: The accompanying schedule of expenditures of federal awards as required by the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform and Guidance) and related notes to the schedule of federal awards is presented for purposes of additional analysis and is not a required part of the basic financial statements. The schedule of expenditures of federal awards and related notes are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements, or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. De Minimis Rate Used: N Rate Explanation: The Township has elected not to use the 10-percent de minimis indirect cost rate allowable under the Uniform Guidance. The Township is reimbursed for programmatic and administrative costs in accordance with rules set forth by the Department of Education. In 2023, the Township did not claim administrative cost allowances. The accompanying schedule is presented using the regulatory basis of accounting prescribed or permitted for municipalities by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, which differ in certain respects from accounting principles generally accepted in the United States of America (GAAP) applicable to local government units. This basis of accounting is described in Note 1 to the Township’s financial statements.

Title: Relationship to Basic Regulatory Basis Financial Statements Accounting Policies: The accompanying schedule of expenditures of federal awards as required by the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform and Guidance) and related notes to the schedule of federal awards is presented for purposes of additional analysis and is not a required part of the basic financial statements. The schedule of expenditures of federal awards and related notes are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements, or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. De Minimis Rate Used: N Rate Explanation: The Township has elected not to use the 10-percent de minimis indirect cost rate allowable under the Uniform Guidance. The Township is reimbursed for programmatic and administrative costs in accordance with rules set forth by the Department of Education. In 2023, the Township did not claim administrative cost allowances. Amounts reported in the accompanying schedule agrees with amounts reported in the Township’s financial statements.

Title: Relationship to Federal Financial Reports Accounting Policies: The accompanying schedule of expenditures of federal awards as required by the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform and Guidance) and related notes to the schedule of federal awards is presented for purposes of additional analysis and is not a required part of the basic financial statements. The schedule of expenditures of federal awards and related notes are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements, or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. De Minimis Rate Used: N Rate Explanation: The Township has elected not to use the 10-percent de minimis indirect cost rate allowable under the Uniform Guidance. The Township is reimbursed for programmatic and administrative costs in accordance with rules set forth by the Department of Education. In 2023, the Township did not claim administrative cost allowances. Amounts reported in the accompanying schedule of expenditures of federal awards agree with the amounts reported in the related federal financial reports, where required.

Title: Indirect Cost Rate Accounting Policies: The accompanying schedule of expenditures of federal awards as required by the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform and Guidance) and related notes to the schedule of federal awards is presented for purposes of additional analysis and is not a required part of the basic financial statements. The schedule of expenditures of federal awards and related notes are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements, or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. De Minimis Rate Used: N Rate Explanation: The Township has elected not to use the 10-percent de minimis indirect cost rate allowable under the Uniform Guidance. The Township is reimbursed for programmatic and administrative costs in accordance with rules set forth by the Department of Education. In 2023, the Township did not claim administrative cost allowances. The Township has elected not to use the ten percent de minimis indirect cost rate as allowed by the Uniform Guidance.