Notes to SEFA
Accounting Policies: The accompanying Schedules of Expenditures of Federal Awards and State 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 than generally accepted accounting principles. The basis of accounting, with exception, is described in Note 1 to the Township's financial statements - regulatory basis.
De Minimis Rate Used: Y
Rate Explanation: The Township has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.