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 Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Therefore, some amounts presented in this Schedule may differ from
amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee elected to not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (schedule) includes the
federal grant activity of Yuma/La Paz Counties Community College District for the year
ended June 30, 2024. The information in this schedule is presented in accordance with the
requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
(Uniform Guidance).
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 Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Therefore, some amounts presented in this Schedule may differ from
amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee elected to not use the de minimis cost rate.
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 as to
reimbursement. Therefore, some amounts presented in this Schedule may differ from
amounts presented in, or used in the preparation of, the financial statements.
Title: NOTE 3 FEDERAL ASSISTANCE LISTING NUMBERS
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 as to
reimbursement. Therefore, some amounts presented in this Schedule may differ from
amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee elected to not use the de minimis cost rate.
The program titles and Federal Assistance Listings numbers were obtained from the federal
or pass-through grantor or the 2024 Federal Assistance Listings.
Title: NOTE 4 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 Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Therefore, some amounts presented in this Schedule may differ from
amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee elected to not use the de minimis cost rate.
The District has not elected to use the 10 percent de minimis indirect cost rate as
established in 2 CFR 200.414.