Audit 344348

FY End
2024-05-31
Total Expended
$1.17M
Findings
0
Programs
5
Organization: Alaska Christian College (AK)
Year: 2024 Accepted: 2025-02-28
Auditor: Bergankdv LLC

Organization Exclusion Status:

Checking exclusion status...

Findings

No findings recorded

Programs

ALN Program Spent Major Findings
84.031 Higher Education Institutional Aid $541,502 Yes 0
84.063 Federal Pell Grant Program $242,617 - 0
84.425 Education Stabilization Fund $53,181 - 0
84.007 Federal Supplemental Educational Opportunity Grants $5,588 - 0
84.033 Federal Work-Study Program $5,427 - 0

Contacts

Name Title Type
HNAFRT9DHRX6 Jeff Siemers Auditee
9073942125 Tim Lens Auditor
No contacts on file

Notes to SEFA

Title: 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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement. De Minimis Rate Used: N Rate Explanation: The Organization has elected not to use the 10% de minimis 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 the Organization under programs of the federal government for the year ended May 31, 2023. 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). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: Contingencies 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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement. De Minimis Rate Used: N Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The Organization receives funds under various federal grant programs and such assistance is to be expended in accordance with the provisions of the various grants. Compliance with the grants is subject to audit by various government agencies, which may impose sanctions in the event of non-compliance. Management believes that they have complied with all aspects of the various grant provisions and the results of adjustments, if any, relating to such audits would not have any material financial impact.