Notes to SEFA
Accounting Policies: 1. GeneralThe accompanying schedules of expenditures of federal awards and state financial assistance present the activity of all federal award and state financial assistance programs of the City of Orange Township (City). The City is defined in Note 1 to the Citys financial statements. To the extent identified, the federal awards and state financial assistance that passed through other governmental agencies is included on the schedules of expenditures of federal awards and state financial assistance. 2.Basis of AccountingThe accompanying schedules of expenditures of federal awards and state financial assistance are presented using the regulatory basis of accounting 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 Citys financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.