Notes to SEFA
Title: NOTE 1 – BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in the OMB’s Uniform Guidance, where certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: San Joaquin College of Law has elected not to use the 10 percent de minimus indirect cost rate as allowed under the
Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of SanJoaquin College of Law under programs of federal government for the years ended July 31, 2024 and 2023. The
information in the Schedule is presented in accordance with the requirements of OMB’s Uniform Guidance. Because the
Schedule presents only a selected portion of the operations of San Joaquin College of Law, it is not intended to and does
not present the financial position, changes in net assets, or cash flows of San Joaquin College of Law.
Title: NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in the OMB’s Uniform Guidance, where certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: San Joaquin College of Law has elected not to use the 10 percent de minimus indirect cost rate as allowed under the
Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in the OMB’s Uniform Guidance, where certain types of expenditures
are not allowable or are limited as to reimbursement.
Title: NOTE 3 – INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in the OMB’s Uniform Guidance, where certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: San Joaquin College of Law has elected not to use the 10 percent de minimus indirect cost rate as allowed under the
Uniform Guidance.
San Joaquin College of Law has elected not to use the 10 percent de minimus indirect cost rate as allowed under the
Uniform Guidance.