Notes to SEFA
Title: NOTE 4: RELATIONSHIP TO FINANCIAL STATEMENTS - REGULATORY BASIS
Accounting Policies: The accompanying schedules of expenditures of financial assistance present the activity of all federal financial assistance programs of the Township of Scotch Plains, County of Union, New Jersey. All federal and state financial assistance received directly from federal and state agencies, as well as state financial assistance passed through other government agencies is included on the Schedule of Expenditures of Federal Awards. The accompanying schedule of expenditures of financial assistance are presented on the prescribed basis of accounting, modified accrual basis with certain exceptions, prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, that demonstrates compliance with the budget laws of New Jersey, which is a comprehensive basis of accounting, other then generally accepted accounting principles. The basis of accounting, with exceptions, is described in Note 1 to the Township's financial statements - regulatory basis.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts reported in the accompanying schedules agree with amounts reported in the Township's regulatory basis financial statements. These amounts are reported in the Current Fund:
Title: NOTE 5: OTHER
Accounting Policies: The accompanying schedules of expenditures of financial assistance present the activity of all federal financial assistance programs of the Township of Scotch Plains, County of Union, New Jersey. All federal and state financial assistance received directly from federal and state agencies, as well as state financial assistance passed through other government agencies is included on the Schedule of Expenditures of Federal Awards. The accompanying schedule of expenditures of financial assistance are presented on the prescribed basis of accounting, modified accrual basis with certain exceptions, prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, that demonstrates compliance with the budget laws of New Jersey, which is a comprehensive basis of accounting, other then generally accepted accounting principles. The basis of accounting, with exceptions, is described in Note 1 to the Township's financial statements - regulatory basis.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Matching contributions expended by the Township in accordance with the terms of the various grants are not reported in the accompanying schedule of expenditures of federal awards.