Audit 2691

Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Maricopa County Community College District Foundation under programs of the federal government for the year ended June 30, 2023. The information in this 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”). Because the schedule presents only a selected portion of the operations of Maricopa County Community College District Foundation, it is not intended to and does not present the financial position, change in net assets or cash flows of Maricopa County Community College District Foundation. Maricopa County Community College District Foundation did not provide federal awards to sub-recipients during the year ended June 30, 2023.