Title: Basis of Presentation
Accounting Policies: The Schedule of Expenditures of Federal Awards (SEFA) includes the federal award activity of Mississippi Delta Community College (MDCC) under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with 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 MDCC, it is not intended to and does not present the financial position, changes in net position, or cash flows of MDCC.
Expenditures reported on the SEFA are accounted for on the accrual basis of accounting, and the SEFA was prepared using the same significant accounting policies, where applicable, as those used for the basic financial statements. Expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursements.
De Minimis Rate Used: N
Rate Explanation: MDCC did not utilize 10 percent de minimis indirect cost rate.
The Schedule of Expenditures of Federal Awards (SEFA) includes the federal award activity of Mississippi Delta Community College (MDCC) under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with 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 MDCC, it is not intended to and does not present the financial position, changes in net position, or cash flows of MDCC.
Expenditures reported on the SEFA are accounted for on the accrual basis of accounting, and the SEFA was prepared using the same significant accounting policies, where applicable, as those used for the basic financial statements. Expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursements.
Title: Indirect Cost Rate
Accounting Policies: The Schedule of Expenditures of Federal Awards (SEFA) includes the federal award activity of Mississippi Delta Community College (MDCC) under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with 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 MDCC, it is not intended to and does not present the financial position, changes in net position, or cash flows of MDCC.
Expenditures reported on the SEFA are accounted for on the accrual basis of accounting, and the SEFA was prepared using the same significant accounting policies, where applicable, as those used for the basic financial statements. Expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursements.
De Minimis Rate Used: N
Rate Explanation: MDCC did not utilize 10 percent de minimis indirect cost rate.
MDCC has not elected to use the 10 percent de minimis indirect cost rate allowed under Uniform Guidance.
Title: Federal Non-Cash Assistance
Accounting Policies: The Schedule of Expenditures of Federal Awards (SEFA) includes the federal award activity of Mississippi Delta Community College (MDCC) under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with 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 MDCC, it is not intended to and does not present the financial position, changes in net position, or cash flows of MDCC.
Expenditures reported on the SEFA are accounted for on the accrual basis of accounting, and the SEFA was prepared using the same significant accounting policies, where applicable, as those used for the basic financial statements. Expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursements.
De Minimis Rate Used: N
Rate Explanation: MDCC did not utilize 10 percent de minimis indirect cost rate.
MDCC did not receive any federal noncash assistance for the year ended June 30, 2024.