Notes to SEFA
The College has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
During the year ended June 30, 2025, the State of New Jersey, Department of Treasury made payments on behalf of the College to the Alternate Benefit Program of $739,151. These benefits are reimbursed by the State of New Jersey at the rate of 8% for faculty and staff involved in the student instruction process, all other disbursements for other staff are reflected in the accompanying basic financial statements for the year ended June 30, 2025. The June 30, 2025 benefit reimbursement for faculty is included in the accompanying schedule of expenditures of state financial assistance.