Audit 291309

Title: Basis of Presentation Accounting Policies: The accompanying schedule of expenditures of federal awards 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, using the modified accrual basis of accounting. Therefore, some amounts presented in this schedule may differ from amounts presented in the financial statements. The College does not charge a de minimis indirect cost rate. Because the schedule presents only a selected portion of the operations of the Technical College of the Rockies, a blended component unit of the Delta County Joint School District 50J, it is not intended to and does not present the financial position, changes in net position or fund balance, or cash flows of Technical College of the Rockies, a blended component unit of the Delta County Joint School District 50J. De Minimis Rate Used: N Rate Explanation: District did not use the de minimis rate on grants. The accompanying schedule of expenditures of federal awards 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, using the modified accrual basis of accounting. Therefore, some amounts presented in this schedule may differ from amounts presented in the financial statements. The College does not charge a de minimis indirect cost rate. Because the schedule presents only a selected portion of the operations of the Technical College of the Rockies, a blended component unit of the Delta County Joint School District 50J, it is not intended to and does not present the financial position, changes in net position or fund balance, or cash flows of Technical College of the Rockies, a blended component unit of the Delta County Joint School District 50J.