Audit 328375

Accounting Policies: Note A-Basis of Presentation: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Foundation of Yakima Valley College and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the rquirements 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 this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Note B-Cumulative Federal Expenditures: The accompanying schedule of expenditures of federal awards includes the cumulative federal expenditures as of June 30, 2024. The cumulative federal expenditures consist of the original grant amount, matching funds, and investment activity within the funds. De Minimis Rate Used: N Rate Explanation: The Foundation of Yakima Valley College did not elect to use the 10 percent de minimus cost rate.