Notes to SEFA
The accompanying schedules of expenditures of federal and state awards present the activity of all federal and state financial assistance programs of North Jersey RC&D Area, Inc. The information in these schedules are presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), and the New Jersey State Circular 15-08-OMB, Single Audit Policy for Recipients of Federal Grants, State Grants, and State Aid. Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of the basic financial statements. All federal and state financial assistance received directly from federal and state agencies, as well as federal and state financial assistance passed through other government agencies is included in the schedules of expenditures of federal and state awards.
No federal or state awards were provided to sub-recipients.
The regulations and guidelines governing the preparation of federal and state financial reports vary by agency and among programs administered by the same agency. Accordingly, the amounts reported in the federal and state financial reports do not necessarily agree with the amounts in the accompanying schedules of expenditures of federal and state awards, which is prepared on the accrual basis of accounting explained in Note 2.
Dollar threshold used to distinguish between Type A and Type B programs is $750,000. Single audit requirement is $750,000.