Notes to SEFA
Accounting Policies: During the year ended June 30, 2022, The College was the recipient of various federal grant funds.Federal funds were received directly from the federal government. The information in the schedule ispresented 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 amountspresented in, or used in the preparation of, the basic financial statements. Expenditures in the scheduleare reported on the accrual basis of accounting. Such expenditures are recognized following the costprinciples contained in the Uniform Guidance, wherein certain types of expenditures are not allowableor are limited as to reimbursement. If the College is required to match certain federal assistance, asdefined by the grant agreements, no such matching has been included as expenditures in the schedule.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.