Title: GENERAL
Accounting Policies: The accompanying schedule of expenditures of Federal Awards present the activity of all federal and state financial assistance programs of the Township of Raritan, County of Hunterdon, New Jersey. All federal awards received directly from federal agencies, as well as federal 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 U.S. 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 Federal Awards present the activity of all federal and state financial assistance programs of the Township of Raritan, County of Hunterdon, New Jersey. All federal awards received directly from federal agencies, as well as federal 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 schedule of expenditures of Federal Awards present the activity of all federal and state financial assistance programs of the Township of Raritan, County of Hunterdon, New Jersey. All federal awards received directly from federal agencies, as well as federal 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 U.S. 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 U.S. generally accepted accounting principles. The basis of accounting, with exception, is described in Note 1 to the Township’s financial statements - regulatory basis.
Title: RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Accounting Policies: The accompanying schedule of expenditures of Federal Awards present the activity of all federal and state financial assistance programs of the Township of Raritan, County of Hunterdon, New Jersey. All federal awards received directly from federal agencies, as well as federal 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 U.S. 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 of expenditures agree with the amounts reported in the related federal financial reports. In addition, the Township has not elected to use the 10% de minimis cost rate as allowed under the Uniform Guidance.
Title: RELATIONSHIP TO FINANCIAL STATEMENTS - REGULATORY BASIS
Accounting Policies: The accompanying schedule of expenditures of Federal Awards present the activity of all federal and state financial assistance programs of the Township of Raritan, County of Hunterdon, New Jersey. All federal awards received directly from federal agencies, as well as federal 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 U.S. 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 of expenditures agree with amounts reported in the Township’s regulatory basis financial statements. These amounts are reported in the Current Fund. See table in NOTES TO SEFA section.
Title: OTHER
Accounting Policies: The accompanying schedule of expenditures of Federal Awards present the activity of all federal and state financial assistance programs of the Township of Raritan, County of Hunterdon, New Jersey. All federal awards received directly from federal agencies, as well as federal 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 U.S. 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 Township in accordance with terms of the various grants are not reported in the accompanying schedules.