Notes to SEFA
Title: NOTE 3: RELATIONSHIP TO FEDERAL AND STATE FINANCIAL REPORTS
Accounting Policies: The accompanying schedules of expenditures of Federal Awards and State Financial Assistance present the activity of all federal and state financial assistance programs of the Borough of Manville, County of Somerset, New Jersey. All federal and state awards received directly from federal and state agencies, as well as federal awards and state financial assistance passed through other government agencies is included on the Schedules of Expenditures of Federal Awards and State Financial Assistance. 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 than U.S. generally accepted accounting principles. The basis of accounting, with exception, is described in Note 1 to the Boroughs 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 schedules of expenditures agree with the amounts reported in the related federal and state financial reports. Amounts reported in the accompanying schedules of expenditures agree with amounts reported in the Boroughs statutory basis financial statements. These amounts are reported either in the Current Fund, Grant Fund, Trust Other Fund or General Capital Fund. See Notes to the SEFA Table
Title: NOTE 4: OTHER
Accounting Policies: The accompanying schedules of expenditures of Federal Awards and State Financial Assistance present the activity of all federal and state financial assistance programs of the Borough of Manville, County of Somerset, New Jersey. All federal and state awards received directly from federal and state agencies, as well as federal awards and state financial assistance passed through other government agencies is included on the Schedules of Expenditures of Federal Awards and State Financial Assistance. 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 than U.S. generally accepted accounting principles. The basis of accounting, with exception, is described in Note 1 to the Boroughs 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 Borough in accordance with terms of the various grants are not reported in the accompanying schedules.