Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The schedule of expenditures of federal awards is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The College did not elect to use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards include the federal award activity of Central Community College Area. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 the College, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the College.