Notes to SEFA
Title: MATCHING EXPENDITURES
Accounting Policies: The expenditures included in the schedule are reported for the Colleges fiscal year ended August 31, 2022 and 2021. Expenditure reports to funding agencies are prepared on the award period basis. The expenditures reported above represent funds which have been expended by the College for purposes of the award. The expenditures reported above may not have been reimbursed by the funding agencies as of the end of the fiscal year. Some amounts reported in the schedule may differ from amounts used in the preparation of the general purpose financial statements. Separate accounts are maintained for the different awards to aid in the observance of limitations and restrictions imposed by the funding agencies. The College has followed all applicable guidelines issued by various entities in the preparation of the schedule.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Small Business Development (SBDC) program requires local matching expenditures. The District accounts for these expenditures within the Current Unrestricted Funds. Matching expenditures for the years ended August 31, 2022 and 2021 were as follows:FederalPass -ThroughProgramDirect Matching ExpendituresCFDAGrantorsMatching Years Ended August 31,NumberNumberRequired20222021TotalSBDC Program (10-01-21/12-31-21)59.037R-21-0055-53805$103,980$33,216$62,711$95,927SBDC Program (01-01-22/12-31-22)59.037R-22-0055-53805 $120,79770,179-70,179$103,395$62,711$166,106