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REPORT ON FINANCIAL STATEMENTS JUNE 30, 2024 AND 2023 (A Component Unit of the County of Sussex)SUSSEX COUNTY COMMUNITY COLLEGE (A Component Unit of the County of Sussex) REPORT ON FINANCIAL STATEMENTS AND SCHEDULES OF EXPENDITURES OF FEDERAL AWARDS AND STATE FINANCIAL ASSISTANCE IN ACCORDANCE WITH UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS (UNIFORM GUIDANCE) AND NEW JERSEY OMB CIRCULAR 1508 YEARS ENDED JUNE 30, 2024 AND 2023SUSSEX COUNTY

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What is a component unit of?

A component unit is a legally separate organization for which the primary government is financially accountable, often included in the financial statements of the primary government.

Who is required to file a component unit of?

Component units are generally required to be filed by the primary government, which includes state and local governments that have oversight and financial accountability over other organizations.

How to fill out a component unit of?

To fill out a component unit, gather relevant financial information of the component unit, adhere to applicable accounting standards, and submit the information according to the primary government's reporting requirements.

What is the purpose of a component unit of?

The purpose of a component unit is to provide transparency and accountability in financial reporting by including entities that are closely linked to the primary government.

What information must be reported on a component unit of?

Information that must be reported on a component unit typically includes financial statements, revenues, expenditures, and notes regarding accounting policies and financial activities.

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