Notes to SEFA
Title: NOTE 2: BASIS OF ACCOUNTING
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards 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 funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting. The entity has elected not to use the 10% de minimis indirect cost rate
De Minimis Rate Used: N
Rate Explanation: The entity selected not to use the 10% de minimis indirect cost rate
The accompanying Schedule of Expenditures of Federal Awards 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 funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting. The entity has elected not to use the 10% de minimis indirect cost rate
Title: NOTE 1: GENERAL INFORMATION
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards 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 funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting. The entity has elected not to use the 10% de minimis indirect cost rate
De Minimis Rate Used: N
Rate Explanation: The entity selected not to use the 10% de minimis indirect cost rate
The accompanying Schedule of Expenditures of Federal Awards presents the activities in all the Federal financial assistance programs of Family Link of Union and Essex Counties All financial assistance received directly from Federal agencies as well as financial assistance passed through other governmental agencies or non-profit organizations are included on the schedule.
Title: NOTE 3: RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards 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 funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting. The entity has elected not to use the 10% de minimis indirect cost rate
De Minimis Rate Used: N
Rate Explanation: The entity selected not to use the 10% de minimis indirect cost rate
Federal awards are reported as program expenses and management and general costs 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 Awards due to program expenditures exceeding grant or contract budget limitations, Agency matching, or in-kind contributions which are not included as Federal awards or capitalization policies required under accounting principles generally accepted in the United States of America