Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “schedule”) includes federal award activity of the Township of Cherry Hill (hereafter referred to as the “Township”) under programs of the federal government for the fiscal year ended June 30, 2025. The Township is defined in note 1 to the financial statements. The information in the schedule 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). All federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the schedule. 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 and changes in operations of the Township.
Awards and financial assistance expenditures reported in the Township’s financial statements include cost sharing or matching amounts, whereas the schedule excludes such amounts. A reconciliation between the financial statements and the schedule is presented as follows:
Amounts reported in the accompanying schedule agree with the amounts reported in the related federal financial reports.
Amounts reported in the column entitled "adjustments" represent the following:
As described in note 19 to the financial statements, the Township has an ongoing program to loan low and moderate income homeowners funds from the Federal Community Development Block Grant Program. The amount of loans receivable due from the Federal Community Development Block Grant program as of June 30, 2025 is $1,094,334.49.
The major program is identified in the Summary of Auditor's Results section of the Schedule of Findings and Questioned Costs.