Notes to 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. The College has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The College did not provide any federal awards to subrecipients for the year ended June 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. Federal funds were not used to pay for indirect costs.