Title: Note 1. Basis of Presentation
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial assistance are
presented using the modified accrual basis of accounting as promulgated by the State of New Jersey,
Department of Community Affairs, Division of Local Government Services, Department of Community
Affairs, State of New Jersey. Such principles and practices are designed primarily for determining
compliance with legal provisions and budgetary restrictions and as a means of reporting on the
stewardship of public officials with respect to public funds. Under this method of accounting, the County
accounts for its financial transactions through separate funds, which differ from the funds required by
accounting principles generally accepted in the United States of America (“GAAP”).
The amounts shown as current year expenditures represent only the federal or state grant portion of the
program costs. Such expenditures are recognized following the cost principles contained in Title 2 U.S.
Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards and State of New Jersey OMB Circular 15-08, Single Audit Policy for
Recipients of Federal Grants, State Grants and State Aid, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
Modifications to the accrual basis include the following:
Expenditures are recorded on the schedules of expenditures of federal awards and state financial
assistance when encumbered.
Prepaid expenditures are not recorded.
Obligations for employees’ vested vacation and sick leave are recorded when paid.
Grant revenues are recorded when anticipated in the budget.
Property and equipment purchased are recorded as expenditures at the time of purchaseand are
not capitalized.
De Minimis Rate Used: N
Rate Explanation: The County did not elect the applicable de minimis indirect cost rate as discussed in 2 CFR 200.414. The
County does not have an indirect cost allocation plan prepared annually.
The accompanying schedules of expenditures of federal awards and state financial assistance present the
activity of all federal awards and state financial assistance programs of the County of Atlantic. The
County is defined in Note 1 of the basic financial statements. The information in these schedules is
presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part
200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
(Uniform Guidance) and New Jersey OMB’s Circular 15-08, Single Audit Policy for Recipients of
Federal Grants, State Grants and State Aid. All federal and state awards received directly from federal
and state agencies, as well as federal awards and state financial assistance passed through other
government agencies is included on the schedule of expenditures of federal awards and state financial
assistance.
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial assistance are
presented using the modified accrual basis of accounting as promulgated by the State of New Jersey,
Department of Community Affairs, Division of Local Government Services, Department of Community
Affairs, State of New Jersey. Such principles and practices are designed primarily for determining
compliance with legal provisions and budgetary restrictions and as a means of reporting on the
stewardship of public officials with respect to public funds. Under this method of accounting, the County
accounts for its financial transactions through separate funds, which differ from the funds required by
accounting principles generally accepted in the United States of America (“GAAP”).
The amounts shown as current year expenditures represent only the federal or state grant portion of the
program costs. Such expenditures are recognized following the cost principles contained in Title 2 U.S.
Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards and State of New Jersey OMB Circular 15-08, Single Audit Policy for
Recipients of Federal Grants, State Grants and State Aid, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
Modifications to the accrual basis include the following:
Expenditures are recorded on the schedules of expenditures of federal awards and state financial
assistance when encumbered.
Prepaid expenditures are not recorded.
Obligations for employees’ vested vacation and sick leave are recorded when paid.
Grant revenues are recorded when anticipated in the budget.
Property and equipment purchased are recorded as expenditures at the time of purchaseand are
not capitalized.
De Minimis Rate Used: N
Rate Explanation: The County did not elect the applicable de minimis indirect cost rate as discussed in 2 CFR 200.414. The
County does not have an indirect cost allocation plan prepared annually.
The accompanying schedules of expenditures of federal awards and state financial assistance are
presented using the modified accrual basis of accounting as promulgated by the State of New Jersey,
Department of Community Affairs, Division of Local Government Services, Department of Community
Affairs, State of New Jersey. Such principles and practices are designed primarily for determining
compliance with legal provisions and budgetary restrictions and as a means of reporting on the
stewardship of public officials with respect to public funds. Under this method of accounting, the County
accounts for its financial transactions through separate funds, which differ from the funds required by
accounting principles generally accepted in the United States of America (“GAAP”).
The amounts shown as current year expenditures represent only the federal or state grant portion of the
program costs. Such expenditures are recognized following the cost principles contained in Title 2 U.S.
Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards and State of New Jersey OMB Circular 15-08, Single Audit Policy for
Recipients of Federal Grants, State Grants and State Aid, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
Modifications to the accrual basis include the following:
Expenditures are recorded on the schedules of expenditures of federal awards and state financial
assistance when encumbered.
Prepaid expenditures are not recorded.
Obligations for employees’ vested vacation and sick leave are recorded when paid.
Grant revenues are recorded when anticipated in the budget.
Property and equipment purchased are recorded as expenditures at the time of purchaseand are
not capitalized.
The County did not elect the applicable de minimis indirect cost rate as discussed in 2 CFR 200.414. The
County does not have an indirect cost allocation plan prepared annually.
Title: Note 3. Relationship to Basic Financial Statements
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial assistance are
presented using the modified accrual basis of accounting as promulgated by the State of New Jersey,
Department of Community Affairs, Division of Local Government Services, Department of Community
Affairs, State of New Jersey. Such principles and practices are designed primarily for determining
compliance with legal provisions and budgetary restrictions and as a means of reporting on the
stewardship of public officials with respect to public funds. Under this method of accounting, the County
accounts for its financial transactions through separate funds, which differ from the funds required by
accounting principles generally accepted in the United States of America (“GAAP”).
The amounts shown as current year expenditures represent only the federal or state grant portion of the
program costs. Such expenditures are recognized following the cost principles contained in Title 2 U.S.
Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards and State of New Jersey OMB Circular 15-08, Single Audit Policy for
Recipients of Federal Grants, State Grants and State Aid, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
Modifications to the accrual basis include the following:
Expenditures are recorded on the schedules of expenditures of federal awards and state financial
assistance when encumbered.
Prepaid expenditures are not recorded.
Obligations for employees’ vested vacation and sick leave are recorded when paid.
Grant revenues are recorded when anticipated in the budget.
Property and equipment purchased are recorded as expenditures at the time of purchaseand are
not capitalized.
De Minimis Rate Used: N
Rate Explanation: The County did not elect the applicable de minimis indirect cost rate as discussed in 2 CFR 200.414. The
County does not have an indirect cost allocation plan prepared annually.
Amounts reported in the accompanying schedules agree with amounts reported in the County's financial
statements. Expenditures from awards are reported in the County’s financial statements as follows:
Title: Note 4. 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 modified accrual basis of accounting as promulgated by the State of New Jersey,
Department of Community Affairs, Division of Local Government Services, Department of Community
Affairs, State of New Jersey. Such principles and practices are designed primarily for determining
compliance with legal provisions and budgetary restrictions and as a means of reporting on the
stewardship of public officials with respect to public funds. Under this method of accounting, the County
accounts for its financial transactions through separate funds, which differ from the funds required by
accounting principles generally accepted in the United States of America (“GAAP”).
The amounts shown as current year expenditures represent only the federal or state grant portion of the
program costs. Such expenditures are recognized following the cost principles contained in Title 2 U.S.
Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards and State of New Jersey OMB Circular 15-08, Single Audit Policy for
Recipients of Federal Grants, State Grants and State Aid, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
Modifications to the accrual basis include the following:
Expenditures are recorded on the schedules of expenditures of federal awards and state financial
assistance when encumbered.
Prepaid expenditures are not recorded.
Obligations for employees’ vested vacation and sick leave are recorded when paid.
Grant revenues are recorded when anticipated in the budget.
Property and equipment purchased are recorded as expenditures at the time of purchaseand are
not capitalized.
De Minimis Rate Used: N
Rate Explanation: The County did not elect the applicable de minimis indirect cost rate as discussed in 2 CFR 200.414. The
County does not have an indirect cost allocation plan prepared annually.
The regulations and guidelines governing the preparation of federal and state financial reports vary by
federal and state agency and among programs administered by the same agencies. Accordingly, the
amounts reported in the federal and state financial reports do not necessarily agree with the amounts
reported in the accompanying Schedules, which is prepared on the modified accrual basis of accounting,
as explained in Note 2.
Title: Note 5. Federal and State Loans Outstanding
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial assistance are
presented using the modified accrual basis of accounting as promulgated by the State of New Jersey,
Department of Community Affairs, Division of Local Government Services, Department of Community
Affairs, State of New Jersey. Such principles and practices are designed primarily for determining
compliance with legal provisions and budgetary restrictions and as a means of reporting on the
stewardship of public officials with respect to public funds. Under this method of accounting, the County
accounts for its financial transactions through separate funds, which differ from the funds required by
accounting principles generally accepted in the United States of America (“GAAP”).
The amounts shown as current year expenditures represent only the federal or state grant portion of the
program costs. Such expenditures are recognized following the cost principles contained in Title 2 U.S.
Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards and State of New Jersey OMB Circular 15-08, Single Audit Policy for
Recipients of Federal Grants, State Grants and State Aid, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
Modifications to the accrual basis include the following:
Expenditures are recorded on the schedules of expenditures of federal awards and state financial
assistance when encumbered.
Prepaid expenditures are not recorded.
Obligations for employees’ vested vacation and sick leave are recorded when paid.
Grant revenues are recorded when anticipated in the budget.
Property and equipment purchased are recorded as expenditures at the time of purchaseand are
not capitalized.
De Minimis Rate Used: N
Rate Explanation: The County did not elect the applicable de minimis indirect cost rate as discussed in 2 CFR 200.414. The
County does not have an indirect cost allocation plan prepared annually.
The County had no loan balances outstanding at December 31, 2024.
Title: Note 6. Contingencies
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial assistance are
presented using the modified accrual basis of accounting as promulgated by the State of New Jersey,
Department of Community Affairs, Division of Local Government Services, Department of Community
Affairs, State of New Jersey. Such principles and practices are designed primarily for determining
compliance with legal provisions and budgetary restrictions and as a means of reporting on the
stewardship of public officials with respect to public funds. Under this method of accounting, the County
accounts for its financial transactions through separate funds, which differ from the funds required by
accounting principles generally accepted in the United States of America (“GAAP”).
The amounts shown as current year expenditures represent only the federal or state grant portion of the
program costs. Such expenditures are recognized following the cost principles contained in Title 2 U.S.
Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards and State of New Jersey OMB Circular 15-08, Single Audit Policy for
Recipients of Federal Grants, State Grants and State Aid, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
Modifications to the accrual basis include the following:
Expenditures are recorded on the schedules of expenditures of federal awards and state financial
assistance when encumbered.
Prepaid expenditures are not recorded.
Obligations for employees’ vested vacation and sick leave are recorded when paid.
Grant revenues are recorded when anticipated in the budget.
Property and equipment purchased are recorded as expenditures at the time of purchaseand are
not capitalized.
De Minimis Rate Used: N
Rate Explanation: The County did not elect the applicable de minimis indirect cost rate as discussed in 2 CFR 200.414. The
County does not have an indirect cost allocation plan prepared annually.
Each of the grantor agencies reserves the right to conduct additional audits of the County’s grant program
for economy, efficiency and program results. However, the County administration does not believe such
audits would result in material amounts of disallowed costs.
Title: Note 7. Major Programs
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial assistance are
presented using the modified accrual basis of accounting as promulgated by the State of New Jersey,
Department of Community Affairs, Division of Local Government Services, Department of Community
Affairs, State of New Jersey. Such principles and practices are designed primarily for determining
compliance with legal provisions and budgetary restrictions and as a means of reporting on the
stewardship of public officials with respect to public funds. Under this method of accounting, the County
accounts for its financial transactions through separate funds, which differ from the funds required by
accounting principles generally accepted in the United States of America (“GAAP”).
The amounts shown as current year expenditures represent only the federal or state grant portion of the
program costs. Such expenditures are recognized following the cost principles contained in Title 2 U.S.
Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards and State of New Jersey OMB Circular 15-08, Single Audit Policy for
Recipients of Federal Grants, State Grants and State Aid, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
Modifications to the accrual basis include the following:
Expenditures are recorded on the schedules of expenditures of federal awards and state financial
assistance when encumbered.
Prepaid expenditures are not recorded.
Obligations for employees’ vested vacation and sick leave are recorded when paid.
Grant revenues are recorded when anticipated in the budget.
Property and equipment purchased are recorded as expenditures at the time of purchaseand are
not capitalized.
De Minimis Rate Used: N
Rate Explanation: The County did not elect the applicable de minimis indirect cost rate as discussed in 2 CFR 200.414. The
County does not have an indirect cost allocation plan prepared annually.
Major programs are identified in the Summary of Auditor’s Results section of the Schedule of Findings
and Questioned Costs.