Audit 322868

Title: Basis of Accounting Accounting Policies: ACCRUAL BASIS De Minimis Rate Used: N Rate Explanation: Direct cost The Schedule of Expenditures of Federal Awards is prepared on the accrual basis of accounting and includes the federal grant activity of Pierce Mortuary Colleges, Inc. 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) wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pierce Mortuary Colleges, Inc. has elected not to use the 10-percent de mini mis indirect cost rate allowed under the Uniform Guidance. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.