Notes to SEFA
Title: NOTE 2. BASIS OF ACCOUNTING
Accounting Policies: NOTE 1. GENERALThe accompanying schedules of expenditures of federal awards and state financial assistance present the activity of all federal and state financial awards of the City of Linden, County of Union, New Jersey. All federal and state financial awards received directly from federal or state agencies, as well as federal financial awards passed through other government agencies is included on the Schedules of Expenditures of Federal Awards and State Financial Assistance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedules of expenditures of federal awards and state financial assistance are presented on the prescribed basis of accounting, modified accrual basis with certain exceptions, prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, that demonstrates compliance with the budget laws of New Jersey, which is a comprehensive basis of accounting, other then generally accepted accounting principles. The basis of accounting, with exception, is described in Note 1 to the Citys financial statements - regulatory basis.
Title: NOTE 3. RELATIONSHIP TO FEDERAL AND STATE FINANCIAL REPORTS
Accounting Policies: NOTE 1. GENERALThe accompanying schedules of expenditures of federal awards and state financial assistance present the activity of all federal and state financial awards of the City of Linden, County of Union, New Jersey. All federal and state financial awards received directly from federal or state agencies, as well as federal financial awards passed through other government agencies is included on the Schedules of Expenditures of Federal Awards and State Financial Assistance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts reported in the accompanying schedules agree with the amounts reported in the related federal and state financial reports. In addition, the City has not elected to use the 10% de minimis cost rate as allowed under the Uniform Guidance.
Title: NOTE 4. RELATIONSHIP TO FINANCIAL STATEMENTS - REGULATORY BASIS
Accounting Policies: NOTE 1. GENERALThe accompanying schedules of expenditures of federal awards and state financial assistance present the activity of all federal and state financial awards of the City of Linden, County of Union, New Jersey. All federal and state financial awards received directly from federal or state agencies, as well as federal financial awards passed through other government agencies is included on the Schedules of Expenditures of Federal Awards and State Financial Assistance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts reported in the accompanying schedules agree with amounts reported in the Citys regulatory basis financial statements. These amounts are reported in either the Current Fund, Grant Fund, General Capital Fund, Trust Other Fund or Public Assistance Trust Fund. See Notes to SEFA Schedule
Title: NOTE 5. OTHER
Accounting Policies: NOTE 1. GENERALThe accompanying schedules of expenditures of federal awards and state financial assistance present the activity of all federal and state financial awards of the City of Linden, County of Union, New Jersey. All federal and state financial awards received directly from federal or state agencies, as well as federal financial awards passed through other government agencies is included on the Schedules of Expenditures of Federal Awards and State Financial Assistance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Matching contributions expended by the City in accordance with terms of the various grants are not reported in the accompanying schedules.