Notes to SEFA
Title: Note 3. Cumulative Expenditures
Accounting Policies: Note 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards and state financial assistance (the “Schedule”) includes all of the federal and state grant activity of MCBOSS for the year ended December 31, 2023, and is presented on the cash basis of accounting. The information in this Schedule is presented in accordance with the requirements of Uniform Guidance and the Circular.
Note 2. Summary of Significant Accounting Policies
The accompanying Schedule is presented using the cash basis of accounting. Expenditures are reported for the year ended December 31, 2023, except for Temporary Assistance for Needy Families (“TANF”) Public Assistance (Assistance Listing No. 93.558) which are reported on a December 1 fiscal year end. Additionally, the TANF amount has been presented as “gross” expenditures excluding the effect of federal and state collections as a result of a change in reporting rules by the State of New Jersey, Department of Human Services, Division of Family Development. MCBOSS elected to not use the 10% de minimis cost rate.
De Minimis Rate Used: N
Rate Explanation: MCBOSS elected to not use the 10% de minimis cost rate.
Total cumulative expenditures for the Supportive Assistance to Individuals and Families/GA grant for the period January 1, 2023 through December 31, 2023, was $239,045.
Title: Note 4. Allocation of Federal and State Awards
Accounting Policies: Note 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards and state financial assistance (the “Schedule”) includes all of the federal and state grant activity of MCBOSS for the year ended December 31, 2023, and is presented on the cash basis of accounting. The information in this Schedule is presented in accordance with the requirements of Uniform Guidance and the Circular.
Note 2. Summary of Significant Accounting Policies
The accompanying Schedule is presented using the cash basis of accounting. Expenditures are reported for the year ended December 31, 2023, except for Temporary Assistance for Needy Families (“TANF”) Public Assistance (Assistance Listing No. 93.558) which are reported on a December 1 fiscal year end. Additionally, the TANF amount has been presented as “gross” expenditures excluding the effect of federal and state collections as a result of a change in reporting rules by the State of New Jersey, Department of Human Services, Division of Family Development. MCBOSS elected to not use the 10% de minimis cost rate.
De Minimis Rate Used: N
Rate Explanation: MCBOSS elected to not use the 10% de minimis cost rate.
Certain grant agreements and other communication from grantor indicates that the source of the funds include both federal and state awards. However, the awarding agency has not provided MCBOSS with the amount of federal funds included. Because the federal portion of the expenditures is unknown, the full amount is included in the accompanying schedule of expenditures of federal awards.