Notes to SEFA
Accounting Policies: 1. Basis of PresentationThe accompanying schedule of expenditures of federal and state awards (the Schedule) includethe federal and state award activity of Collaborative Support Programs of New Jersey, Inc. underprograms of the federal and state government for the year ended June 30, 2022. The information inthis schedule is presented in accordance with the requirements Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance) and New Jersey OMB Circular 15-08.Because the Schedule presents only a selected portion of the operations of the Project it is notintended to and does not present the financial position, changes in net assets, or cash flows of theProject. Therefore, some amounts presented in this schedule may differ from amounts presentedin, or used in the preparation of the basic financial statements.2. Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance,wherein certain types of expenditures are not allowable or are limited as to reimbursement.Negative amounts shown on the Schedule represent adjustments or credits made in the normalcourse of business to amounts reported as expenditures in prior years.3. Non-cash Federal AssistanceThe Organization did not receive any non-cash federal assistance for the year endedJune 30, 2022.4. Indirect Cost RateThe Organization has elected not to use the 10-percent de minimus indirect cost rate allowed underthe Uniform Guidance.5. Loan GuaranteesAt June 30, 2022, the Organization is not the guarantor of any loans outstanding.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.