Notes to SEFA
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared in the format required under Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). The purpose of this Schedule is to present a summary of those activities of the College for the year ended June 30, 2023 which have been financed by a Federal Agency directly or indirectly in the form of grants, contracts, cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance, direct appropriations, and other non-cash assistance. Because this Schedule presents only a a selected portion of the activities of the College, they are not intended to, and do not, present the financial position, changes in net position or the current funds revenues, expenditures, cash flows, and other changes of the College in conformity with generally accepted accounting princples.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.