Notes to SEFA
The accompanying schedule of expenditures of federal awards presents the activity of all federal award programs of the City of South Amboy. The City is defined in Note 1 of the financial statements. To the extent identified, the federal awards that passed through other governmental agencies are included on the schedules of expenditures of federal awards.
The accompanying schedules are presented using the regulatory basis of accounting as prescribed or permitted for municipalities by the Division of Local Government Services, Department of Community Affairs, State of New Jersey which differ in certain respects from accounting principles generally accepted in the United States of America (GAAP) applicable to local government units. This basis of accounting is described in Note 1 to the City’s financial statements.
Amounts reported in the accompanying schedules agree with amounts reported in the City’s financial statements.
Amounts reported in the accompanying schedule of expenditures of federal awards agree with the amounts reported in the related federal financial reports, where required.