Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the accompanying schedules of expenditures of federal and state awards are reported on the cash basis of accounting. Such expenditures are recognized following the cost principals contained in the Uniform Guidance, wherein certain types of expensitures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on the Schedules represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through identifying numbers are presented where available. The County has not elected to use the 10 percent de minimis indirect rate as allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedules of expenditures of federal and state awards include the federal and state grant activity of the County of Warren under programs of the federal and state governments for the fiscal year ended December 31, 2023. The information in these schedules is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”) and New Jersey's OMB Circular 15-08, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid. Because the schedules present only a selected portion of the operations of the County, they are not intended to and do not present the financial position, changes in net position or cash flows of the County.
Title: Relationship to Federal and State Financial Report
Accounting Policies: Expenditures reported on the accompanying schedules of expenditures of federal and state awards are reported on the cash basis of accounting. Such expenditures are recognized following the cost principals contained in the Uniform Guidance, wherein certain types of expensitures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on the Schedules represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through identifying numbers are presented where available. The County has not elected to use the 10 percent de minimis indirect rate as allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
Amounts reported in the accompanying schedules agree with the amounts reported in the related federal and state financial reports.
Title: State Loans Outstanding
Accounting Policies: Expenditures reported on the accompanying schedules of expenditures of federal and state awards are reported on the cash basis of accounting. Such expenditures are recognized following the cost principals contained in the Uniform Guidance, wherein certain types of expensitures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on the Schedules represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through identifying numbers are presented where available. The County has not elected to use the 10 percent de minimis indirect rate as allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The County had no loans outstanding as of December 31, 2023.