Title: GENERAL
Accounting Policies: The accompanying schedules of expenditures of financial assistance present the activity of all federal financial assistance programs of the Town of Westfield, County of Union, New Jersey. All federal and state financial assistance received directly from federal and state agencies, as well as state financial assistance passed through other government agencies is included on the Schedule of Expenditures of Federal Awards.The accompanying schedule of expenditures of financial assistance are presented on the prescribed basis of accounting, modified accrual basis with certain exceptions, prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, that demonstrates compliance with the budget laws of New Jersey, which is a comprehensive basis of accounting, other then generally accepted accounting principles.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedules of expenditures of financial assistance present the activity of all federal financial assistance programs of the Town of Westfield, County of Union, New Jersey. All federal and state financial assistance received directly from federal and state agencies, as well as state financial assistance passed through other government agencies is included on the Schedule of Expenditures of Federal Awards.
Title: BASIS OF ACCOUNTING
Accounting Policies: The accompanying schedules of expenditures of financial assistance present the activity of all federal financial assistance programs of the Town of Westfield, County of Union, New Jersey. All federal and state financial assistance received directly from federal and state agencies, as well as state financial assistance passed through other government agencies is included on the Schedule of Expenditures of Federal Awards.The accompanying schedule of expenditures of financial assistance are presented on the prescribed basis of accounting, modified accrual basis with certain exceptions, prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, that demonstrates compliance with the budget laws of New Jersey, which is a comprehensive basis of accounting, other then generally accepted accounting principles.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of financial assistance are presented on the prescribed basis of accounting, modified accrual basis with certain exceptions, prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, that demonstrates compliance with the budget laws of New Jersey, which is a comprehensive basis of accounting, other then generally accepted accounting principles. The basis of accounting, with exceptions, is described in Note 1 to the Town’s financial statements - regulatory basis.
Title: RELATIONSHIP TO FEDERAL AND STATE FINANCIAL REPORTS
Accounting Policies: The accompanying schedules of expenditures of financial assistance present the activity of all federal financial assistance programs of the Town of Westfield, County of Union, New Jersey. All federal and state financial assistance received directly from federal and state agencies, as well as state financial assistance passed through other government agencies is included on the Schedule of Expenditures of Federal Awards.The accompanying schedule of expenditures of financial assistance are presented on the prescribed basis of accounting, modified accrual basis with certain exceptions, prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, that demonstrates compliance with the budget laws of New Jersey, which is a comprehensive basis of accounting, other then generally accepted accounting principles.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts reported in the accompanying schedule agree with the amounts reported in the related federal financial reports.
Title: RELATIONSHIP TO FINANCIAL STATEMENTS - REGULATORY BASIS
Accounting Policies: The accompanying schedules of expenditures of financial assistance present the activity of all federal financial assistance programs of the Town of Westfield, County of Union, New Jersey. All federal and state financial assistance received directly from federal and state agencies, as well as state financial assistance passed through other government agencies is included on the Schedule of Expenditures of Federal Awards.The accompanying schedule of expenditures of financial assistance are presented on the prescribed basis of accounting, modified accrual basis with certain exceptions, prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, that demonstrates compliance with the budget laws of New Jersey, which is a comprehensive basis of accounting, other then generally accepted accounting principles.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts reported in the accompanying schedules agree with amounts reported in the Town’s regulatory basis financial statements. These amounts are reported in the Current Fund and General Capital Fund. See NOTES TO SEFA section for table.
Title: OTHER
Accounting Policies: The accompanying schedules of expenditures of financial assistance present the activity of all federal financial assistance programs of the Town of Westfield, County of Union, New Jersey. All federal and state financial assistance received directly from federal and state agencies, as well as state financial assistance passed through other government agencies is included on the Schedule of Expenditures of Federal Awards.The accompanying schedule of expenditures of financial assistance are presented on the prescribed basis of accounting, modified accrual basis with certain exceptions, prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, that demonstrates compliance with the budget laws of New Jersey, which is a comprehensive basis of accounting, other then generally accepted accounting principles.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Matching contributions expended by the Town in accordance with terms of the various grants are not reported in the accompanying schedules of expenditures of federal awards and financial assistance.