Notes to SEFA
Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are recognized on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types
of expenditures are not allowable or are limited as to reimbursement. The College’s summary of significant accounting policies is presented in Note 1 in the College’s basic financial statements. No federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: n/a
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Treasure Valley Community College (the College) under programs of the federal government
for the year ended June 30, 2023. The information 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 the College, it is not intended to and does not present the financial position, changes in net position or cash flows for the College. The College received federal awards both directly from federal agencies and indirectly through pass-through entities.