Title: GENERAL INFORMATION
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the Federal grant activity of Johnson College and is presented on the accrual basis of accounting. 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 this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
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 presents the activity of all federal award programsof Johnson College. All awards received directly from federal agencies as well as financial assistance passed through other governmental agencies or non-profit organizations are included on the schedule.
Title: FEDERAL DIRECT STUDENT LOANS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the Federal grant activity of Johnson College and is presented on the accrual basis of accounting. 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 this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Federal Direct Student Loans (Federal CFDA Number 84.268) are comprised of the following types of loans: PLUS Loans $ 751,339
Stafford Loans - subsidized 1,244,219
Stafford Loans - unsubsidized 1,427,890
Total Federal Direct Student Loans $ 3,423,448
Title: SUBRECIPIENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the Federal grant activity of Johnson College and is presented on the accrual basis of accounting. 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 this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The College did not pass any awards through to subrecipients.
Title: MATCHING CONTRIBUTIONS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the Federal grant activity of Johnson College and is presented on the accrual basis of accounting. 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 this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The amounts reported in the accompanying Schedule of Expenditures of Federal Awards do not include matching contributions made by the College. The College made matching contributions to the following federal awards: Federal Supplemental Educational Opportunity Grants $ 22,365
Johnson College Mobile Training Laboratory 72,952
Tools of The Trade: Supporting Tools for Workforce Training 114,199
$ 209,516