Notes to SEFA
The accompanying Schedules of Expenditures of Federal and State Awards (the "Schedules") includes the federal and state grant activity of the Authority under programs of the federal and state governments for the year ended December 31, 2025. The information in these schedules is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”) and New Jersey's OMB Circular 25-12, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid. Because the schedules present only a selected portion of the operations of the Authority, they are not intended to and do not present the financial position, changes in fund balance or cash flows of the Authority.
Amounts reported in the accompanying schedules agree with the amounts reported in the related federal and state financial reports.