Audit 351756

Title: Basis of Presentation Accounting Policies: The accompanying schedule of expenditures of federal awards for the year ended June 30, 2024 presents the federal awards activity of New Jersey Performing Arts Center Corporation (NJPAC) and is presented on the accrual basis. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the NJPAC’s consolidated financial statements. NJPAC has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Indirect costs are allocated to the grant within the Schedule in accordance with contractual provisions the grant, if applicable. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The accompanying schedule of expenditures of federal awards for the year ended June 30, 2024 presents the federal awards activity of New Jersey Performing Arts Center Corporation (NJPAC) and is presented on the accrual basis. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the NJPAC’s consolidated financial statements. NJPAC has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Indirect costs are allocated to the grant within the Schedule in accordance with contractual provisions the grant, if applicable.

Title: Subsrecipients Accounting Policies: The accompanying schedule of expenditures of federal awards for the year ended June 30, 2024 presents the federal awards activity of New Jersey Performing Arts Center Corporation (NJPAC) and is presented on the accrual basis. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the NJPAC’s consolidated financial statements. NJPAC has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Indirect costs are allocated to the grant within the Schedule in accordance with contractual provisions the grant, if applicable. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. NJPAC did not pass through any federal awards to subrecipients during the year ended June 30, 2024.