Notes to SEFA
Title: Adjustments on the Schedule of Federal Awards
Accounting Policies: General: The accompanying Schedule of Expenditures Federal Awards and Schedule of State Financial Assistance presents the activity of all federal awards and state financial assistance programs of the Township of Delaware, County of Hunterdon, State of New Jersey (the Municipality) for the year ended December 31, 2022.
Basis of Accounting: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and as promulgated by the State of New Jersey, Department of Community Affairs, Division of Local Government Services, which is described in the Notes to the Financial Statements, Note 1.
Adjustments on Schedule of Expenditures of State Financial Assistance:
On Schedule 1, the net adjustments of $92,495 represents expenses incurred in a prior year which have been reimbursed by the State of Jersey Department of Transportation.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
On Schedule 1, the net adjustments of $92,495 represents expenses incurred in a prior year which have been reimbursed by the State of Jersey Department of Transportation.