Notes to SEFA
Title: Note 1
Accounting Policies: The College participates in various federal programs. Federal programs are audited in accordance with Title 2, U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The want to reduce the risk associated with negotiating an indirect cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Chattahoochee Valley Community College (the College) under programs of the federal government for the year ended September 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). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or
used in the preparation of, the basic financial statements. 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 assets, or cash flows of the College.
Title: Note 2
Accounting Policies: The College participates in various federal programs. Federal programs are audited in accordance with Title 2, U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The want to reduce the risk associated with negotiating an indirect cost rate.
Expenditures reported on the Schedule 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.
Title: Note 3
Accounting Policies: The College participates in various federal programs. Federal programs are audited in accordance with Title 2, U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The want to reduce the risk associated with negotiating an indirect cost rate.
Chattahoochee Valley Community College has elected not to use the 10-percent de minimis
indirect cost rate allowed under the Uniform Guidance.