Notes to SEFA
The accompanying schedules of expenditures of Federal Awards and State Financial Assistance present the activity of all federal and state financial assistance programs of the Township of Hamilton, County of Mercer, New Jersey. All federal and state financial assistance received directly from federal or state agencies, as well as federal financial assistance passed through other government agencies is included on the Schedule of Expenditures of Federal and State Awards.
The accompanying schedules of expenditures of Federal Awards and State Financial Assistance are 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. The basis of accounting, with exception, is described in Note 1 to the Township’s financial statements - regulatory basis.
Amounts reported in the accompanying schedules agree with the amounts reported in the related federal and state financial reports. In addition, the Township has not elected to use the 10% de minimis cost rate as allowed under the Uniform Guidance.
Amounts reported in the accompanying schedules agree with amounts reported in the Township’s regulatory basis financial statements. These amounts are reported in either the Grant Fund, Trust Other Fund or General Capital Fund. See Notes to SEFA section for table.
Matching contributions expended by the Township in accordance with terms of the various grants are not reported in the accompanying schedules.