Notes to SEFA
Title: Reconciliation of accrued (deferred) revenue at July 1, 2021 to prior year
Accounting Policies: The schedule of expenditures of federal awards presents the activity of all federal award programs for CAIU for the year ended June 30, 2022.Because the schedule presents only a selected portion of the operations of CAIU, it is not intended to, and does not, present the financial position or changes in net position (deficit) of CAIU.The accompanying schedule of expenditures of federal awards is prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Beginning balance prior to adjustment $(324,885)Additional Child Nutrition Cluster expenses not included in the June 30, 2021 SEFA1,219 Adjusted deferred revenue as of July 1, 2021 $(323,666)