Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. For the purposes of the Schedule, federal awards include the following: ?Direct federal awards ?Pass-through funds received from non-federal organizations made under federally sponsored programs conducted by those organizations. All programs are presented by federal agency. Pass-through programs are also presented by the entity through which the College received the federal award. Assistance Listing Numbers (ALN) and Pass-Through Numbers are presented for those programs for which such numbers are available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.