Notes to SEFA
Accounting Policies: (1) Basis of PresentationThe accompanying Schedule of Expenditures of Federal Awards includes the Federal grant activity of Ulster County Community College (the College) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.(2) Component UnitsThe component units of the College had no expenditures of federal awards.(3) SubrecipientsThere were no subrecipients of the Federal awards of the College for the year ended August 31, 2022.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent such costs are included in the federal financial reports used as the source for the data presented. The College does not use the 10% de minimis election.7