Notes to SEFA
Accounting Policies: The expenditures included in the schedule are reported for the college's fiscal year. Expenditure reports to funding agencies are prepared on the award period basis. The expenditures reported above may not have been reimbursed by the funding agencies as of the end of the fiscal year. Separate accounts are maintained for the different awards to aid in the observace of limitation and restrictions imposed by the funding agencies. The college has followed all applicable guuidelines 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.