Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedules 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, and State of New Jersey
Circular 15-08-OMB, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid,
wherein certain types of expenditures are not allowed or are limited as to reimbursement. The
expenditures reflected in the schedules are presented at the federal and state participation level; thus,
any matching portion is not included.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The accompanying schedules of expenditures of federal awards and state financial assistance (the
“schedules”) include federal and state award activity of the City of Millville (hereafter referred to as the
“City”) under programs of the federal government and state government for the year ended December
31, 2023. The City 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 City, it is not intended to and does not present the financial position and
changes in operations of the City.
Title: RELATIONSHIP TO FEDERAL AND STATE FINANCIAL REPORTS
Accounting Policies: Expenditures reported on the schedules 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, and State of New Jersey
Circular 15-08-OMB, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid,
wherein certain types of expenditures are not allowed or are limited as to reimbursement. The
expenditures reflected in the schedules are presented at the federal and state participation level; thus,
any matching portion is not included.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Amounts reported in the accompanying schedules agree with the amounts reported in the related federal
and state financial reports.
Title: MAJOR PROGRAMS
Accounting Policies: Expenditures reported on the schedules 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, and State of New Jersey
Circular 15-08-OMB, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid,
wherein certain types of expenditures are not allowed or are limited as to reimbursement. The
expenditures reflected in the schedules are presented at the federal and state participation level; thus,
any matching portion is not included.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Major programs are identified in the Summary of Auditor's Results section of the Schedule of Findings
and Questioned Costs.