Audit 294329

Accounting Policies: The Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Mississippi Delta Community College under programs of the federal and state governments 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 the Mississippi Delta Community College, it is not intended to and does not present the financial position, changes in net position, or cash flows of Mississippi Delta Community College. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Entire program costs, including the College ’s portion, are more than shown. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursements. De Minimis Rate Used: N Rate Explanation: The College has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.