Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedules are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, and the State of New Jersey, Department of Children and Families Cost Reimbursement Manual, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected not to use the ten perceny de minimis indirectcost rate allowed under the Uniform Guidance.
The accompanying schedules of expenditures of federal awards and state financial assistance (the "Schedules") include the federal and state grant activity of the Organization under programs of the federal and state government for the year ended June 30, 2024. The information in these Schedules is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance") and State of New Jersey, Circular Letter 15-08-OMB, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid (the "Circular"). Because the Schedules present only a selected portion of the operations of the Organization, they are not intended to and do not present the financial position, change in net assets or cash flows of the Organization.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedules are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, and the State of New Jersey, Department of Children and Families Cost Reimbursement Manual, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected not to use the ten perceny de minimis indirectcost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedules are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, and the State of New Jersey, Department of Children and Families Cost Reimbursement Manual, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedules are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, and the State of New Jersey, Department of Children and Families Cost Reimbursement Manual, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected not to use the ten perceny de minimis indirectcost rate allowed under the Uniform Guidance.
The Organization has elected not to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Reconciliation of Government Grants to Schedules
Accounting Policies: Expenditures reported on the Schedules are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, and the State of New Jersey, Department of Children and Families Cost Reimbursement Manual, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected not to use the ten perceny de minimis indirectcost rate allowed under the Uniform Guidance.
Government grants revenue per audit $ 3,401,150
Expenses per Schedules
Schedule of expenditures of federal awards $ 1,561,541
Schedule of expenditures of state financial assistance 1,839,609
Total expenses per Schedules 3,401,150
Variance $ -