Notes to SEFA
The accompanying schedules of expenditures of federal awards and state financial assistance present the activity of all federal awards and state financial assistance programs of the Authority. The Authority is defined in Note 1 of the basic 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 and state awards received directly from federal and state agencies, as well as federal awards and state financial assistance passed through other government agencies is included on the schedule of expenditures of federal awards and state financial assistance
The Authority provided no federal awards or state financial assistance to sub-recipients for the year ended December 31, 2024.
Amounts reported in the accompanying schedules agree with the amounts reported in the related federal and state financial reports.
As of December 31, 2024, the Authority is not the guarantor of any loans outstanding.