Title: 1. Basis of Presentation
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (“Schedule”) includes the federal award activity of the New Jersey Schools Development Authority (“Authority”), a component unit of the State of New Jersey situated in but not of the New Jersey Department of the Treasury, under programs of the federal government. The information in this Schedule 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 is presented on the accrual basis of accounting.
Because the Schedule presents only a selected portion of the operations of the Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.
2. Basis of Accounting
The Authority’s accompanying schedule of expenditures of federal awards (the “Schedule”) is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments (codified in 2 CFR Part 225), wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: No Indirects Costs are being charged to this Federal Award.
The accompanying schedule of expenditures of federal awards (“Schedule”) includes the federal award activity of the New Jersey Schools Development Authority (“Authority”), a component unit of the State of New Jersey situated in but not of the New Jersey Department of the Treasury, under programs of the federal government. The information in this Schedule 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 is presented on the accrual basis of accounting.
Because the Schedule presents only a selected portion of the operations of the Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.
Title: 2. Basis of Accounting
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (“Schedule”) includes the federal award activity of the New Jersey Schools Development Authority (“Authority”), a component unit of the State of New Jersey situated in but not of the New Jersey Department of the Treasury, under programs of the federal government. The information in this Schedule 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 is presented on the accrual basis of accounting.
Because the Schedule presents only a selected portion of the operations of the Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.
2. Basis of Accounting
The Authority’s accompanying schedule of expenditures of federal awards (the “Schedule”) is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments (codified in 2 CFR Part 225), wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: No Indirects Costs are being charged to this Federal Award.
The Authority’s accompanying schedule of expenditures of federal awards (the “Schedule”) is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments (codified in 2 CFR Part 225), wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
Title: 3. Indirect Cost Rate
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (“Schedule”) includes the federal award activity of the New Jersey Schools Development Authority (“Authority”), a component unit of the State of New Jersey situated in but not of the New Jersey Department of the Treasury, under programs of the federal government. The information in this Schedule 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 is presented on the accrual basis of accounting.
Because the Schedule presents only a selected portion of the operations of the Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.
2. Basis of Accounting
The Authority’s accompanying schedule of expenditures of federal awards (the “Schedule”) is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments (codified in 2 CFR Part 225), wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: No Indirects Costs are being charged to this Federal Award.
The Authority has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.