Notes to SEFA
The accompanying schedules of expenditures of federal awards and state financial assistance presents the activity of all federal awards and state financial assistance programs of the Organization. The Organization is defined in Note 1 of the basic financial statements. The information in this schedule is 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 New Jersey OMB’s Circular 15-08, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid. All federal and state awards received directly from federal and state agencies, as well as federal awards and state financial assistance passed through other government agencies are included on the schedules of expenditures of federal awards and state financial assistance.
Amounts reported in the accompanying schedules agree with the amounts reported in the Organization’s financial statements. Expenditures from awards are reported in the Organization’s financial statements as follows: Federal expenditures: $3,513,529, State Expenditures: $ 16,371,420, County & local expenditures: $1,881,085,Total grant revenue: $21,766,034
Amounts reported in the accompanying schedules agree with the amounts reported in the related federal and state financial reports. However, the basis of accounting prescribed by the pass-through agency for the preparation of expenditure reports is different than the accrual basis of accounting. The basic difference between the two bases of accounting is that the equipment purchased with program funds are included as expenditures in the expenditure reports, while Generally Accepted Accounting Principles requires these items to be capitalized and depreciated over their useful lives.
The Organization had no federal or state loan balances outstanding at both June 30, 2025.
Each of the grantor agencies reserves the right to conduct additional audits of the Organization’s grant program for economy, efficiency and program results. However, the Organization’s administration does not believe such audits would result in material amounts of disallowed costs.
Major programs are identified in the Summary of Auditor’s Results section of the Schedule of Findings and Questioned Costs.