Notes to SEFA
Title: CRF Funds
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared under the modified accrual basis of accounting. Management has utilized the Grant Auditor Report in preparing the Schedule of Expenditures of Federal Awards.
De Minimis Rate Used: N
Rate Explanation: Auditee used indirect cost rates provided in approved grant budgets from State of Michigan.
The Coronavirus Relief Funds (AL 21.019) has been adjusted by $207,637. This amount was deferred in 2021-2022 and remained unspent as of June 30, 2023. The period of performance for this program ended on December 30, 2020. These amounts have been reclassified to an amount due to the State and shown in Accounts Payable