Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal and state financial assistance is presented using the accrual basis of accounting. The amounts reported in this schedule as expenditures may differ from certain financial reports submitted to federal and state funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Southern New Jersey Regional Early Intervention Collaborative, Inc. has not made an election pursuant to 2 CFR Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards to receive a 10% de minimis indirect cost rate. Furthermore, Southern New Jersey Regional Early Intervention Collaborative, Inc. does not receive any federal indirect costs.
The accompanying schedule of expenditures of federal and state financial assistance presents the activities in all the federal and state financial assistance programs of Southern New Jersey Regional Early Intervention Collaborative, Inc. All financial assistance received directly from federal and state agencies as well as financial assistance passed through other governmental agencies or non-profit organizations is included on the schedule.
Title: RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal and state financial assistance is presented using the accrual basis of accounting. The amounts reported in this schedule as expenditures may differ from certain financial reports submitted to federal and state funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Southern New Jersey Regional Early Intervention Collaborative, Inc. has not made an election pursuant to 2 CFR Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards to receive a 10% de minimis indirect cost rate. Furthermore, Southern New Jersey Regional Early Intervention Collaborative, Inc. does not receive any federal indirect costs.
Federal and state awards expenditures are reported as program services and management and general expenses in the statements of functional expenses. In certain programs, the expenditures reported in the basic financial statements may differ from the expenditures reported in the schedule of expenditures of federal and state financial assistance due to program expenditures exceeding grant or contract budget limitations, matching requirements, or in-kind contributions which are not included as federal or state awards or capitalization policies required under accounting principles generally accepted in the United States of America.