Audit 25473

Accounting Policies: Purpose of the Schedule: The accompanying schedule of expenditures of federal awards (the Schedule) is a supplementary schedule to Clackamas Community Colleges financial statements and is presented for purposes of additional analysis. Because the Schedule presents only a selected portion of the activities of the College, it is not intended to and does not present either the financial position or changes in net position of the College. Significant Accounting Policies: The Reporting Entity - The reporting entity is fully described in Note 1 to the Colleges financial statements. The Schedule includes all federal financial assistance programs administered by the College for the year ended June 30, 2022. Basis of Presentation -The information in the Schedule is presented 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). Federal Financial Assistance -Pursuant to the Uniform Guidance, federal financial assistance is defined as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts, cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance or direct appropriations. Accordingly, nonmonetary federal assistance, including federal surplus property, is included in federal financial assistance and, therefore, is reported on the Schedule, if applicable. Federal financial assistance does not include direct federal cash assistance to individuals. Solicited contracts between the state and federal government for which the federal government procures tangible goods or services are not considered to be federal financial assistance. Basis of Accounting - The expenditures in the Schedule are recognized as incurred based on the accrual basis of accounting and the cost accounting principles contained in the Uniform Guidance. Under those cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. The College has elected not to use the ten percent de minimus indirect cost rate as allowed under the Uniform Guidance. Matching Costs - The Schedule does not include matching expenditures. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.