Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported in accordance with the Requirements of Audit (the Requirements) as
promulgated by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, and
present expenditures on the modified accrual basis of accounting with minor exceptions as mandated by the Requirements.
This basis of accounting is described in note 1 to the financial statements. Such expenditures are recognized following the cost
principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed or are limited as
to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did use the de minimis cost rate.
The accompanying schedules of expenditures of federal awards and state financial assistance (the “schedules”) include federal and state award activity of the Township of Voorhees (hereafter referred to as the “Township”) under programs of the federal government and state government for the year ended December 31, 2023. The Township is defined in note 1 to the financial statements. The information in these schedules is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and State of New Jersey Circular 15-08-OMB, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid. All federal and state awards received directly from federal and state agencies, as well as federal awards and state financial assistance passed through other government agencies, are included on the schedules. Because these schedules present only a selected portion of the operations of the Township, it is not intended to and does not present the financial position and changes in operations of the Township.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the schedule are reported in accordance with the Requirements of Audit (the Requirements) as
promulgated by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, and
present expenditures on the modified accrual basis of accounting with minor exceptions as mandated by the Requirements.
This basis of accounting is described in note 1 to the financial statements. Such expenditures are recognized following the cost
principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed or are limited as
to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did use the de minimis cost rate.
The Township has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Relationship to Federal and State Financial Reports
Accounting Policies: Expenditures reported on the schedule are reported in accordance with the Requirements of Audit (the Requirements) as
promulgated by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, and
present expenditures on the modified accrual basis of accounting with minor exceptions as mandated by the Requirements.
This basis of accounting is described in note 1 to the financial statements. Such expenditures are recognized following the cost
principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed or are limited as
to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did use the de minimis cost rate.
Amounts reported in the accompanying schedules agree with the amounts reported in the related federal and state financial reports.
Title: Adjustments
Accounting Policies: Expenditures reported on the schedule are reported in accordance with the Requirements of Audit (the Requirements) as
promulgated by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, and
present expenditures on the modified accrual basis of accounting with minor exceptions as mandated by the Requirements.
This basis of accounting is described in note 1 to the financial statements. Such expenditures are recognized following the cost
principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed or are limited as
to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did use the de minimis cost rate.
Amounts reported in the column entitled "adjustments" represent the local matching portion for the grant.
Title: Major Programs
Accounting Policies: Expenditures reported on the schedule are reported in accordance with the Requirements of Audit (the Requirements) as
promulgated by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, and
present expenditures on the modified accrual basis of accounting with minor exceptions as mandated by the Requirements.
This basis of accounting is described in note 1 to the financial statements. Such expenditures are recognized following the cost
principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed or are limited as
to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did use the de minimis cost rate.
Major programs are identified in the Summary of Auditor's Results section of the Schedule of Findings and Questioned Costs.