Notes to SEFA
Title: Relationship to Federal Financial Reports
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal awards of the City of Long Branch, County of Monmouth, New Jersey. All federal awards received directly from federal or state agencies, as well as federal financial assistance passed through other government agencies is incuded on the Schedule of Expenditures of Federal Awards. The accompanying schedule of expenditures of federal awards is 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, which is a comprehensive basis of accounting, other than generally accepted accounting principles. The basis of accounting, with exceptions is described in Note 1 to the City's financial statments - regulatory basis.
De Minimis Rate Used: N
Rate Explanation: An indirect cost rate was not used.
Amounts reported in the accompanying schedule agrees with amounts reported in the related financial reports.
Title: Relationship to Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal awards of the City of Long Branch, County of Monmouth, New Jersey. All federal awards received directly from federal or state agencies, as well as federal financial assistance passed through other government agencies is incuded on the Schedule of Expenditures of Federal Awards. The accompanying schedule of expenditures of federal awards is 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, which is a comprehensive basis of accounting, other than generally accepted accounting principles. The basis of accounting, with exceptions is described in Note 1 to the City's financial statments - regulatory basis.
De Minimis Rate Used: N
Rate Explanation: An indirect cost rate was not used.
Amounts reported in the accompanying schedule agrees with amounts reported in the City's regulatory basis financial statements. These amounts are reported in the Grant Fund, Current Fund, Trust Funds and HUD Trust Funds
Title: Other
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal awards of the City of Long Branch, County of Monmouth, New Jersey. All federal awards received directly from federal or state agencies, as well as federal financial assistance passed through other government agencies is incuded on the Schedule of Expenditures of Federal Awards. The accompanying schedule of expenditures of federal awards is 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, which is a comprehensive basis of accounting, other than generally accepted accounting principles. The basis of accounting, with exceptions is described in Note 1 to the City's financial statments - regulatory basis.
De Minimis Rate Used: N
Rate Explanation: An indirect cost rate was not used.
Matching contributions expended by the City in accordance with terms of the various grants are not reported in the accoumpanying schedule.