Notes to SEFA
The accompanying schedule of expenditures of federal awards (the ‘Schedule’) includes the federal grant activity administered by the Township of Hopewell for the year ended December 31, 2024. 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 Grant Guidance – UGG). Because the Schedule presents only a selected portion of the operations of the Township, it is not intended to and does not present the financial position or changes in net position of the Township of Hopewell.
Federal financial award revenues are included in the financial statements as ‘intergovernmental revenue'. In specific, federal award revenues related to the Township’s Cops Fast, Highway Safety, and ARPA Grant Programs are presented in Exhibit E in the General Fund and the Special Revenue Fund columns (page 6).