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 Morris County Prevention is Key, Inc. The Agency is defined in the Notes to the Agency’s basic financial statements. All federal awards 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 awards and state financial assistance.
The accompanying schedules of expenditures of awards and financial assistance are presented using the accrual basis of accounting.
Amounts reported in the accompanying schedules agree with amounts reported in the Agency’s basic financial statements.
Amounts reported in the accompanying schedules agree with the amounts reported in the related federal and state financial reports.
Matching contributions expended by the Agency in accordance with terms of the various grants are not reported in the accompanying schedules.
The Agency had no year-end loan balances for Reimbursement Loans, Loan Advances and Revolving Loans.
The accompanying schedules include indirect costs that were claimed for reimbursement using the ten percent de minimus cost rate.