Notes to SEFA
Title: 1
Accounting Policies: Expenditures reported on the Schedule are reported on the acrual 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.
De Minimis Rate Used: N
Rate Explanation: California College of ASU has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of California College of ASU under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with the requirements of the 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 California College of ASU, it is not intended to and does not present the financial position of business-type activities, changes in financial position, or cash flows.
Title: 2
Accounting Policies: Expenditures reported on the Schedule are reported on the acrual 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.
De Minimis Rate Used: N
Rate Explanation: California College of ASU has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the acrual 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.
Title: 3
Accounting Policies: Expenditures reported on the Schedule are reported on the acrual 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.
De Minimis Rate Used: N
Rate Explanation: California College of ASU has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
California College of ASU has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: 4
Accounting Policies: Expenditures reported on the Schedule are reported on the acrual 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.
De Minimis Rate Used: N
Rate Explanation: California College of ASU has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Amounts reported in the Schedule agree in all material respects with the amounts reported in the related federal financial reports.