Title: RELATIONSHIP TO FINANCIAL STATEMENTS - REGULATORY BASIS
Accounting Policies: The accompanying schedule of expenditures of federal awards present the activity of all federal financial programs of the Township of Cranford, County of Union, New Jersey. All federal financial assistance received directly from federal, as well as federal assistance passed through other government agencies is included on the Schedule of Expenditures of Federal Awards. The accompanying schedule of expenditures of federal awards is 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 than generally accepted accounting principles. The basis of accounting, with exceptions, is described in Note 1 to the Townships financial statements - regulatory basis.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts reported in the accompanying schedule agree with amounts reported in the Townships regulatory basis financial statements. See Notes to the SEFA TAble
Title: RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Accounting Policies: The accompanying schedule of expenditures of federal awards present the activity of all federal financial programs of the Township of Cranford, County of Union, New Jersey. All federal financial assistance received directly from federal, as well as federal assistance passed through other government agencies is included on the Schedule of Expenditures of Federal Awards. The accompanying schedule of expenditures of federal awards is 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 than generally accepted accounting principles. The basis of accounting, with exceptions, is described in Note 1 to the Townships financial statements - regulatory basis.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts reported in the accompanying schedule agree with the amounts reported in the related federal financial reports. In addition, the Township has not elected to use the de minimus cost rate as covered in 2 CFR 200.414 (F&AS) costs.
Title: OTHER
Accounting Policies: The accompanying schedule of expenditures of federal awards present the activity of all federal financial programs of the Township of Cranford, County of Union, New Jersey. All federal financial assistance received directly from federal, as well as federal assistance passed through other government agencies is included on the Schedule of Expenditures of Federal Awards. The accompanying schedule of expenditures of federal awards is 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 than generally accepted accounting principles. The basis of accounting, with exceptions, is described in Note 1 to the Townships financial statements - regulatory basis.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Matching contributions expended by the Township in accordance with terms of the various grants are not reported in the accompanying schedules.Expenditures reported against the Public Assistance Disaster Grant are reported at 90% of the approved project costs. All costs reported on this grant occurred in 2021.