Notes to SEFA
The accompanying schedules of expenditures of federal awards and state financial assistance (the Schedules) include the federal and state grant activity of Lakewood Cheder School, Inc. (the School) under programs of the federal and New Jersey State government for the year ended August 31, 2025. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) ) and the State of New Jersey Department of Treasury Circular 2025-12 Single Audit Policy for Recipients of Federal Grants, State Grants, and State Aid. Because the Schedule presents only a selected portion of the operations of the Center, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the School.
Lakewood Cheder School, Inc. was approved by the State of New Jersey’s Department of Agriculture, under the National School Lunch Act and Child Nutrition Act of 1966, to operate the Food Nutrition Program which includes both the School Breakfast Program and the National School Lunch Program as well as the Summer Food Service Program during the summer.
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
Management considers events and transactions that occur after the financials statement date, but before the financial statements are issued, to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. These financial statements were available to be issued on May 5, 2026 and subsequent events have been evaluated through that date.