Title: NOTE 1:
BASIS OF ACCOUNTING
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial
assistance are presented using the accrual basis of accounting. This basis of accounting
is described in Note 2 to the organization’s consolidated financial statements. The
information in these schedules is presented in accordance with the requirements of Title
2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance), and State of
New Jersey Circular 15-08-OMB, Single Audit Policy for Recipients of Federal Grants,
State Grants and State Aid.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate
allowed under Uniform Guidance.
The accompanying schedules of expenditures of federal awards and state financial
assistance are presented using the accrual basis of accounting. This basis of accounting
is described in Note 2 to the organization’s consolidated financial statements. The
information in these schedules is presented in accordance with the requirements of Title
2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance), and State of
New Jersey Circular 15-08-OMB, Single Audit Policy for Recipients of Federal Grants,
State Grants and State Aid.
Title: NOTE 2:
DE MINIMIS COST RATE
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial
assistance are presented using the accrual basis of accounting. This basis of accounting
is described in Note 2 to the organization’s consolidated financial statements. The
information in these schedules is presented in accordance with the requirements of Title
2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance), and State of
New Jersey Circular 15-08-OMB, Single Audit Policy for Recipients of Federal Grants,
State Grants and State Aid.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate
allowed under Uniform Guidance.
The Organization has elected not to use the 10-percent de minimis indirect cost rate
allowed under Uniform Guidance.
Title: NOTE 3:
GENERAL
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial
assistance are presented using the accrual basis of accounting. This basis of accounting
is described in Note 2 to the organization’s consolidated financial statements. The
information in these schedules is presented in accordance with the requirements of Title
2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance), and State of
New Jersey Circular 15-08-OMB, Single Audit Policy for Recipients of Federal Grants,
State Grants and State Aid.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate
allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards and state financial
assistance present the activity of all federal and state award programs of the
organizations. All federal and state awards, with current year activity, received directly
from federal, state, and local agencies, as well as federal and state awards passed
through other government agencies, are included in the schedule.
Title: NOTE 4:
RELATIONSHIP TO FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial
assistance are presented using the accrual basis of accounting. This basis of accounting
is described in Note 2 to the organization’s consolidated financial statements. The
information in these schedules is presented in accordance with the requirements of Title
2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance), and State of
New Jersey Circular 15-08-OMB, Single Audit Policy for Recipients of Federal Grants,
State Grants and State Aid.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate
allowed under Uniform Guidance.
Amounts reported in the accompanying schedule agree, in all material respects, with the
amounts reported in related federal and state financial statements.
Title: RELATIONSHIP TO FEDERAL AND STATE FINANCIAL REPORTS
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial
assistance are presented using the accrual basis of accounting. This basis of accounting
is described in Note 2 to the organization’s consolidated financial statements. The
information in these schedules is presented in accordance with the requirements of Title
2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance), and State of
New Jersey Circular 15-08-OMB, Single Audit Policy for Recipients of Federal Grants,
State Grants and State Aid.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate
allowed under Uniform Guidance.
Amounts reported in the accompanying schedules agree, in all material respects, with the
amounts reported in related federal and state financial reports. However, the basis of
accounting prescribed by the pass-through agency for the preparation of expenditure
reports is different than the accrual basis of accounting. The basic difference between the
two bases of accounting is that the equipment purchased with program funds are
included as expenditures in the expenditure reports, while GAAP requires these items to
be capitalized and depreciated over their useful lives.
Title: NOTE 6:
MAJOR PROGRAMS
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial
assistance are presented using the accrual basis of accounting. This basis of accounting
is described in Note 2 to the organization’s consolidated financial statements. The
information in these schedules is presented in accordance with the requirements of Title
2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance), and State of
New Jersey Circular 15-08-OMB, Single Audit Policy for Recipients of Federal Grants,
State Grants and State Aid.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate
allowed under Uniform Guidance.
Major programs are identified in the Summary of Auditor’s Results section of the
Schedule of Findings and Questioned Costs.