Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards is 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, which is described in the Notes to the Financial Statements, Note 1.
The amounts shown as current year expenditures represent only the federal 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 (Uniform Guidance), wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
The Township did not elect the applicable de minimis indirect cost rate as discussed in 2 CFR 200.414.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards present the activity of all federal award
programs of the Township of Howell. The Township is defined in Note 1 of the basic financial
statements. The information in this schedule 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). All federal awards received directly from
federal agencies, as well as federal awards passed through other government agencies is included on the
schedule of expenditures of federal awards.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards is 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, which is described in the Notes to the Financial Statements, Note 1.
The amounts shown as current year expenditures represent only the federal 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 (Uniform Guidance), wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
The Township did not elect the applicable de minimis indirect cost rate as discussed in 2 CFR 200.414.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards is 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, which is described in the Notes to the Financial Statements, Note 1.
The amounts shown as current year expenditures represent only the federal 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 (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Township did not elect the applicable de minimis indirect cost rate as discussed in 2 CFR 200.414.
Title: Relationship to Basic Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards is 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, which is described in the Notes to the Financial Statements, Note 1.
The amounts shown as current year expenditures represent only the federal 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 (Uniform Guidance), wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
The Township did not elect the applicable de minimis indirect cost rate as discussed in 2 CFR 200.414.
De Minimis Rate Used: N
Rate Explanation: N/A
Amounts reported in the accompanying schedules agree with amounts reported in the Township's financial statements. Expenditures from awards are reported in the Township’s financial statements as follows
Title: Relationship to Federal Financial Reports
Accounting Policies: The accompanying schedule of expenditures of federal awards is 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, which is described in the Notes to the Financial Statements, Note 1.
The amounts shown as current year expenditures represent only the federal 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 (Uniform Guidance), wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
The Township did not elect the applicable de minimis indirect cost rate as discussed in 2 CFR 200.414.
De Minimis Rate Used: N
Rate Explanation: N/A
The regulations and guidelines governing the preparation of federal financial reports vary by federal
agency and among programs administered by the same agencies. Accordingly, the amounts reported in
the federal financial reports do not necessarily agree with the amounts reported in the accompanying
Schedule, which is prepared on the modified accrual basis of accounting as explained in Note 2.
Title: Federal Loans Outstanding
Accounting Policies: The accompanying schedule of expenditures of federal awards is 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, which is described in the Notes to the Financial Statements, Note 1.
The amounts shown as current year expenditures represent only the federal 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 (Uniform Guidance), wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
The Township did not elect the applicable de minimis indirect cost rate as discussed in 2 CFR 200.414.
De Minimis Rate Used: N
Rate Explanation: N/A
The Township had no loan balances outstanding at December 31, 2024.
Title: Contingencies
Accounting Policies: The accompanying schedule of expenditures of federal awards is 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, which is described in the Notes to the Financial Statements, Note 1.
The amounts shown as current year expenditures represent only the federal 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 (Uniform Guidance), wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
The Township did not elect the applicable de minimis indirect cost rate as discussed in 2 CFR 200.414.
De Minimis Rate Used: N
Rate Explanation: N/A
Each of the grantor agencies reserves the right to conduct additional audits of the Township’s grant
program for economy, efficiency and program results. However, the Township administration does not
believe such audits would result in material amounts of disallowed costs.
Title: Major Programs
Accounting Policies: The accompanying schedule of expenditures of federal awards is 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, which is described in the Notes to the Financial Statements, Note 1.
The amounts shown as current year expenditures represent only the federal 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 (Uniform Guidance), wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
The Township did not elect the applicable de minimis indirect cost rate as discussed in 2 CFR 200.414.
De Minimis Rate Used: N
Rate Explanation: N/A
Major programs are identified in the Summary of Auditor’s Results section of the Schedule of Findings
and Questioned Costs.