Title: General
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance present the activity of all federal and state financial programs of the Township of Montclair, County of Essex, New Jersey. All federal and state financial assistance received directly from federal and state, as well as federal and state assistance passed through other governmental agencies is included on the Schedule of Expenditures of Federal Awards and State Financial Assistance. 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 U.S. 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: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards and state financial assistance present the activity of all federal and state financial programs of the Township of Montclair, County of Essex, New Jersey. All federal and state financial assistance received directly from federal and state, as well as federal and state assistance passed through other governmental agencies is included on the Schedule of Expenditures of Federal Awards and State Financial Assistance.
Title: Basis of Accounting
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance present the activity of all federal and state financial programs of the Township of Montclair, County of Essex, New Jersey. All federal and state financial assistance received directly from federal and state, as well as federal and state assistance passed through other governmental agencies is included on the Schedule of Expenditures of Federal Awards and State Financial Assistance. 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 U.S. 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: N
Rate Explanation: The auditee did not use the de minimis cost rate.
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 U.S. generally accepted accounting principles. The basis of accounting, with exception, is described in Note 1 to the Township’s financial statements - regulatory basis. The Township has elected not to use the 10 percent de minimus indirect cost rate as allowed under the Uniform Guidance.
Title: Relationship to Federal and State Financial Reports
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance present the activity of all federal and state financial programs of the Township of Montclair, County of Essex, New Jersey. All federal and state financial assistance received directly from federal and state, as well as federal and state assistance passed through other governmental agencies is included on the Schedule of Expenditures of Federal Awards and State Financial Assistance. 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 U.S. 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: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts reported in the accompanying schedules of expenditures agree with the amounts reported in the related federal and state financial report.
Title: Relationship to Financial Statements - Regulatory Basis
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance present the activity of all federal and state financial programs of the Township of Montclair, County of Essex, New Jersey. All federal and state financial assistance received directly from federal and state, as well as federal and state assistance passed through other governmental agencies is included on the Schedule of Expenditures of Federal Awards and State Financial Assistance. 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 U.S. 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: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts reported in the accompanying schedule agree with amounts reported in the Township’s regulatory basis financial statements. All these amounts are reported in either the Current Fund, the Grant Fund or the Trust Fund. See NOTES TO SEFA section for table.
Title: Other
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance present the activity of all federal and state financial programs of the Township of Montclair, County of Essex, New Jersey. All federal and state financial assistance received directly from federal and state, as well as federal and state assistance passed through other governmental agencies is included on the Schedule of Expenditures of Federal Awards and State Financial Assistance. 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 U.S. 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: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Matching contributions expended by the Township in accordance with terms of the various grants are not reported in the accompanying schedules.