Notes to SEFA
The accompanying schedules of expenditures of federal awards and state financial assistance (the “schedules”) include federal and state award activity of the Mount Laurel Township Municipal Utilities Authority (hereafter referred to as the “Authority”) under programs of the federal government and state government for the fiscal year ended June 30, 2025. The Authority is defined in note 1 to the Authority's 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 State of New Jersey Circular 15-08-OMB, 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 and state financial assistance passed through other government agencies, are included on these schedules. Because these schedules present only a selected portion of the operations of the Authority, they are not intended to and do not present the financial position and changes in net position of the Authority.
Amounts reported in the accompanying schedules agree with amounts reported in the Authority's basic financial statements.
Amounts reported in the accompanying schedules agree with the amounts reported in the related federal and state financial reports.
Amounts reported in the column entitled "adjustments" labeled with (a) represent amounts that were cancelled in the current year because they were no longer needed for the project. Amounts reported in the column entitled "adjustments" labeled with (b) represent amounts that were expended in the previous year before the grant was awarded and reimbursed with grant funds.
Major programs are identified in the Summary of Auditor's Results section of the Schedule of Findings and Questioned Costs.