Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance programs of the City of Long Branch, County of Monmouth, New Jersey. All federal financial assistance received directly from federal agencies, as well as federal financial assistance passed through other government agencies is included on the Schedule of Expenditures of Federal Awards. The accompanying schedule of expenditures of federal awards is presented on the prescribed basis of accounting, modified accrual basis with certain exceptions, prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, that demonstrates compliance with the budget laws of New Jersey, which is a comprehensive basis of accounting, other than generally accepted accounting principles.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.