Title: Significant Accounting Policies Used in Preparing the SEFA
Accounting Policies: 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. Also, included in the schedule is $164,594 in revenues recorded for the Education Stabilization Fund (84.425L and 84.425T) programs received by the District to recover lost revenues. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: Y
Rate Explanation: The District elected to use the 10 percent de minimis indirect cost rate as covered in 2 CFR §200.414.
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. Also, included in the schedule is $164,594 in revenues recorded for the Education Stabilization Fund (84.425L and 84.425T) programs received by the District to recover lost revenues. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Title: 10% De Minimis Cost Rate
Accounting Policies: 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. Also, included in the schedule is $164,594 in revenues recorded for the Education Stabilization Fund (84.425L and 84.425T) programs received by the District to recover lost revenues. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: Y
Rate Explanation: The District elected to use the 10 percent de minimis indirect cost rate as covered in 2 CFR §200.414.
The District elected to use the 10 percent de minimis indirect cost rate as covered in 2 CFR §200.414.
Title: Basis of presentation
Accounting Policies: 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. Also, included in the schedule is $164,594 in revenues recorded for the Education Stabilization Fund (84.425L and 84.425T) programs received by the District to recover lost revenues. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: Y
Rate Explanation: The District elected to use the 10 percent de minimis indirect cost rate as covered in 2 CFR §200.414.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Coconino County Community College District 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Title: Federal Assistance Listings numbers
Accounting Policies: 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. Also, included in the schedule is $164,594 in revenues recorded for the Education Stabilization Fund (84.425L and 84.425T) programs received by the District to recover lost revenues. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: Y
Rate Explanation: The District elected to use the 10 percent de minimis indirect cost rate as covered in 2 CFR §200.414.
The program titles and Federal Assistance Listing numbers were obtained from the federal or pass-through grantor or the 2023 Federal Assistance Listings.