Notes to SEFA
Accounting Policies: The accompanying schedules of financial assistance are presented on the budgetary basis of accountingwith the exception of programs recorded in the enterprise fund, which are presented using the accrualbasis of accounting. These bases of accounting are described in Notes 1 (C) and 1 (D) to the Board'sbasic financial statements. The information included in this schedule is presented in accordance with therequirements of OMB Uniform Guidance and NJ OMB 15-08. Therefore, some amounts presented in thisschedule may differ from amounts presented in, or used in the preparation of, the basic financialstatements. The District has elected not to use the 10% de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.