Title: Relationship of the Schedule to Program Financial Reports
Accounting Policies: Basis of AccountingThis Schedule of Expenditures of Federal Awards (the schedule) was prepared onthe accrual basis of accounting. Revenues are recorded when earned and expenses arerecorded when a liability is incurred, regardless of the timing of the related cash flows.Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Grants and similar items are recognized as revenue as soon as all eligibilityrequirements imposed by the provider have been met. Basis of PresentationThe accompanying schedule summarizes the federal expenditures of the College underprograms of the federal government for the year ended September 30, 2022. The amountreported as federal expenditures were obtained from the Colleges general ledger. Becausethe schedule presents only a selected portion of the operations of the College, it is notintended to and does not present the financial position, changes in net margins and cashflows of the College. For purposes of the schedule, federal awards include all grants, contracts, and similaragreements entered into directly with the federal government and other pass throughentities. Payments received for goods or services provided as a vendor do no constitutefederal awards for purposes of the schedule. The College has obtained Assistance ListingNumbers (ALN) to ensure that all programs have been identified in the Schedule. ALNhave been listed by applicable programs. Federal programs with different ALNs that areclosely related because they share common compliance requirements are defined as acluster by the Uniform Guidance. Two clusters were identified in the schedule as follows:Student Financial Aid Cluster This cluster includes awards that assistagencies in providing financial assistance to eligible students attendingeligible institutions of postsecondary education.TRIO Cluster This cluster includes awards that assist agencies inproviding outreach and student services programs designed to identify andprovide services for individuals from disadvantaged backgrounds (lowincomeindividuals, firstgeneration college students, and individuals withdisabilities).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The amounts reflected in the financial reports submitted to the awarding federaland/or passthrough agency and the schedule may differ. Some of the factors thatmay account for any difference include the following:The Colleges fiscal year end may differ from the programs year end.Accruals recognized in the schedule, because of year end procedures, may not bereported in the program financial reports until the next program reporting period.Fixed asset purchases and the resultant depreciation charges are recognized asproperty and equipment, net in the Colleges financial statements and asexpenditures in the program financial reports.
Title: Federal PassThrough Funds
Accounting Policies: Basis of AccountingThis Schedule of Expenditures of Federal Awards (the schedule) was prepared onthe accrual basis of accounting. Revenues are recorded when earned and expenses arerecorded when a liability is incurred, regardless of the timing of the related cash flows.Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Grants and similar items are recognized as revenue as soon as all eligibilityrequirements imposed by the provider have been met. Basis of PresentationThe accompanying schedule summarizes the federal expenditures of the College underprograms of the federal government for the year ended September 30, 2022. The amountreported as federal expenditures were obtained from the Colleges general ledger. Becausethe schedule presents only a selected portion of the operations of the College, it is notintended to and does not present the financial position, changes in net margins and cashflows of the College. For purposes of the schedule, federal awards include all grants, contracts, and similaragreements entered into directly with the federal government and other pass throughentities. Payments received for goods or services provided as a vendor do no constitutefederal awards for purposes of the schedule. The College has obtained Assistance ListingNumbers (ALN) to ensure that all programs have been identified in the Schedule. ALNhave been listed by applicable programs. Federal programs with different ALNs that areclosely related because they share common compliance requirements are defined as acluster by the Uniform Guidance. Two clusters were identified in the schedule as follows:Student Financial Aid Cluster This cluster includes awards that assistagencies in providing financial assistance to eligible students attendingeligible institutions of postsecondary education.TRIO Cluster This cluster includes awards that assist agencies inproviding outreach and student services programs designed to identify andprovide services for individuals from disadvantaged backgrounds (lowincomeindividuals, firstgeneration college students, and individuals withdisabilities).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The College is the sub-recipient of federal funds and are reported as expenditures and listed as federal passthrough funds. Federal awards other than those indicated as passthroughare considered direct and will be designated accordingly.
Title: Contingencies
Accounting Policies: Basis of AccountingThis Schedule of Expenditures of Federal Awards (the schedule) was prepared onthe accrual basis of accounting. Revenues are recorded when earned and expenses arerecorded when a liability is incurred, regardless of the timing of the related cash flows.Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Grants and similar items are recognized as revenue as soon as all eligibilityrequirements imposed by the provider have been met. Basis of PresentationThe accompanying schedule summarizes the federal expenditures of the College underprograms of the federal government for the year ended September 30, 2022. The amountreported as federal expenditures were obtained from the Colleges general ledger. Becausethe schedule presents only a selected portion of the operations of the College, it is notintended to and does not present the financial position, changes in net margins and cashflows of the College. For purposes of the schedule, federal awards include all grants, contracts, and similaragreements entered into directly with the federal government and other pass throughentities. Payments received for goods or services provided as a vendor do no constitutefederal awards for purposes of the schedule. The College has obtained Assistance ListingNumbers (ALN) to ensure that all programs have been identified in the Schedule. ALNhave been listed by applicable programs. Federal programs with different ALNs that areclosely related because they share common compliance requirements are defined as acluster by the Uniform Guidance. Two clusters were identified in the schedule as follows:Student Financial Aid Cluster This cluster includes awards that assistagencies in providing financial assistance to eligible students attendingeligible institutions of postsecondary education.TRIO Cluster This cluster includes awards that assist agencies inproviding outreach and student services programs designed to identify andprovide services for individuals from disadvantaged backgrounds (lowincomeindividuals, firstgeneration college students, and individuals withdisabilities).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Grant monies received and disbursed by the College are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon experience, the College does not believe that such disallowance, if any, would have a material effect on the financial position of the College. As of September 30, 2022, there were no known material questioned or disallowed costs as a result of grant audits in process or completed.
Title: Noncash Assistance
Accounting Policies: Basis of AccountingThis Schedule of Expenditures of Federal Awards (the schedule) was prepared onthe accrual basis of accounting. Revenues are recorded when earned and expenses arerecorded when a liability is incurred, regardless of the timing of the related cash flows.Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Grants and similar items are recognized as revenue as soon as all eligibilityrequirements imposed by the provider have been met. Basis of PresentationThe accompanying schedule summarizes the federal expenditures of the College underprograms of the federal government for the year ended September 30, 2022. The amountreported as federal expenditures were obtained from the Colleges general ledger. Becausethe schedule presents only a selected portion of the operations of the College, it is notintended to and does not present the financial position, changes in net margins and cashflows of the College. For purposes of the schedule, federal awards include all grants, contracts, and similaragreements entered into directly with the federal government and other pass throughentities. Payments received for goods or services provided as a vendor do no constitutefederal awards for purposes of the schedule. The College has obtained Assistance ListingNumbers (ALN) to ensure that all programs have been identified in the Schedule. ALNhave been listed by applicable programs. Federal programs with different ALNs that areclosely related because they share common compliance requirements are defined as acluster by the Uniform Guidance. Two clusters were identified in the schedule as follows:Student Financial Aid Cluster This cluster includes awards that assistagencies in providing financial assistance to eligible students attendingeligible institutions of postsecondary education.TRIO Cluster This cluster includes awards that assist agencies inproviding outreach and student services programs designed to identify andprovide services for individuals from disadvantaged backgrounds (lowincomeindividuals, firstgeneration college students, and individuals withdisabilities).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The College did not receive any federal noncash assistance for the fiscal year ended September 30, 2022.
Title: Subrecipients
Accounting Policies: Basis of AccountingThis Schedule of Expenditures of Federal Awards (the schedule) was prepared onthe accrual basis of accounting. Revenues are recorded when earned and expenses arerecorded when a liability is incurred, regardless of the timing of the related cash flows.Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Grants and similar items are recognized as revenue as soon as all eligibilityrequirements imposed by the provider have been met. Basis of PresentationThe accompanying schedule summarizes the federal expenditures of the College underprograms of the federal government for the year ended September 30, 2022. The amountreported as federal expenditures were obtained from the Colleges general ledger. Becausethe schedule presents only a selected portion of the operations of the College, it is notintended to and does not present the financial position, changes in net margins and cashflows of the College. For purposes of the schedule, federal awards include all grants, contracts, and similaragreements entered into directly with the federal government and other pass throughentities. Payments received for goods or services provided as a vendor do no constitutefederal awards for purposes of the schedule. The College has obtained Assistance ListingNumbers (ALN) to ensure that all programs have been identified in the Schedule. ALNhave been listed by applicable programs. Federal programs with different ALNs that areclosely related because they share common compliance requirements are defined as acluster by the Uniform Guidance. Two clusters were identified in the schedule as follows:Student Financial Aid Cluster This cluster includes awards that assistagencies in providing financial assistance to eligible students attendingeligible institutions of postsecondary education.TRIO Cluster This cluster includes awards that assist agencies inproviding outreach and student services programs designed to identify andprovide services for individuals from disadvantaged backgrounds (lowincomeindividuals, firstgeneration college students, and individuals withdisabilities).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The College did not provide federal funds to subrecipients for the fiscal year ended September 30, 2022.
Title: Federally Funded Insurance
Accounting Policies: Basis of AccountingThis Schedule of Expenditures of Federal Awards (the schedule) was prepared onthe accrual basis of accounting. Revenues are recorded when earned and expenses arerecorded when a liability is incurred, regardless of the timing of the related cash flows.Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Grants and similar items are recognized as revenue as soon as all eligibilityrequirements imposed by the provider have been met. Basis of PresentationThe accompanying schedule summarizes the federal expenditures of the College underprograms of the federal government for the year ended September 30, 2022. The amountreported as federal expenditures were obtained from the Colleges general ledger. Becausethe schedule presents only a selected portion of the operations of the College, it is notintended to and does not present the financial position, changes in net margins and cashflows of the College. For purposes of the schedule, federal awards include all grants, contracts, and similaragreements entered into directly with the federal government and other pass throughentities. Payments received for goods or services provided as a vendor do no constitutefederal awards for purposes of the schedule. The College has obtained Assistance ListingNumbers (ALN) to ensure that all programs have been identified in the Schedule. ALNhave been listed by applicable programs. Federal programs with different ALNs that areclosely related because they share common compliance requirements are defined as acluster by the Uniform Guidance. Two clusters were identified in the schedule as follows:Student Financial Aid Cluster This cluster includes awards that assistagencies in providing financial assistance to eligible students attendingeligible institutions of postsecondary education.TRIO Cluster This cluster includes awards that assist agencies inproviding outreach and student services programs designed to identify andprovide services for individuals from disadvantaged backgrounds (lowincomeindividuals, firstgeneration college students, and individuals withdisabilities).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The College did not have any federally funded insurance required to be reported on the schedule for the fiscal year ending September 30, 2022.