Notes to SEFA
The information in the Schedules is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”) and with the State of New Jersey OMB Circular Letter 15-08, Single Audit Policy for Receipts of Federal Grants, State Grants and State Aid. Because the schedule presents only a selected portion of the operations of the Foundation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Foundation.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and State of New Jersey OMB Circular Letter 15-08. Under federal and state cost principles, certain types of expenditures are not allowed or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
There were no amounts provided to subrecipients from federal awards received during the year ended June 30, 2025.
On November 13, 2023, the Foundation’s indirect cost rate agreement with the U.S. Department of Health and Human Services was approved. For the year ended June 30, 2025, this indirect cost rate of 45.5% for direct salaries is applicable to all federal and state grants, excluding Ryan White grants, as grant awards are renewed.