Audit 332143

Title: Basis of presentation Accounting Policies: Expenditures repoted on the schedule of expenditures of federal and state awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and NJOMB 15-08, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: N Rate Explanation: The Center has not elected to use the 10% de minimis indirect cost rate allowed under Unifrom Guidance. The accompanying schedule of expenditures of federal and state awards include the federal and state of New Jersey grant award activity of Monmouth Family Health Center, Inc. (the Center) for the year ended March 31, 2024. The information in the schedule of expenditures and federal awards 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). The information included in the schedule of expenditures of state awards is presented in accordance with the requirements of the State of New Jersey Department of Treasury, OMB Circular 15-08, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid (NJOMB 15-08). Because the schedule presents only a selected portion of the operations of the Center, it is not intended to and do not present the financial position, changes in net assets or cash flows of the Center.