Notes to SEFA
The accompanying schedules of expenditures of federal awards and state financial assistance (the “schedules”) include the federal and state grant activity of the Organization under programs of the federal and state governments for the year ended December 31, 2024. The information in the 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 New Jersey OMB’s Circular 15-08, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid. Because the schedules present only a selected portion of the operations of the Organization, they are not intended to and do not present the financial position, changes in net assets, or cash flows of the Organization.
Expenditures reported on the schedules are reported on the accrual basis of accounting. Such expenditures are recognized as required by the Uniform Guidance and New Jersey OMB’s Circular 15-08, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
The Organization has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.