Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal awardactivity of City University of Seattle (University), an affiliate of the National University System, underprograms of the federal government for the year ending June 30, 2022. The information in this Schedule ispresented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations, Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). Because the Schedule presents only a selected portion of the operations of theUniversity, it is not intended to and does not present the financial position, statement of activities andchanges in net assets, or cash flows of the University.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The University has elected to not use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.