Notes to SEFA
The accompanying schedules of expenditures of federal awards and state and local financial assistance present the activity of all federal awards and state and local financial assistance of the Organization. The Organization is defined in Note 1 of the general-purpose 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 awards and state and local financial assistance received directly from federal and state and local agencies, as well as, federal awards and state and local financial assistance passed through other government agencies is included on the schedules of expenditures of federal awards and state and local financial assistance.
Amounts reported in the accompanying schedules agree with amounts reported in the Organization’s general-purpose financial statements.
Amounts reported in the accompanying schedules agree with amounts reported in the related financial reports. Amounts reported in the schedules of expenditures of federal awards and state and local financial assistance agree with the amounts reported in the Organization’s financial statements as follows: Federal Awards $770,318, State Financial Assistance $2,425,788, Local Financial Assistance $355,751, Total Nonexchange grants $3,551,847.
Major programs are identified in the Schedule of Findings and Questioned Costs section.
Each of the grantor agencies reserves the right to conduct additional audits of the Organization’s grant program for economy, efficiency and program results. However, management does not believe such audits would result in material amounts of disallowed costs
The Organization had no federal or state loan balances outstanding at January 1, 2024 and December 31, 2024.