Notes to SEFA
Title: Note 3: Risk-Based Audit Approach
Accounting Policies: CMU is the reporting entity for financial reporting purposes as defined in Note 1 to CMU's financial statements. The Schedule of Expenditures of Federal awards includes only the expenditures of CMU. The accopanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: CMU did not use the 10% de-minimis indirect cost rate.
The 2024 threshold for determining Type-A and Type-B Programs is $750,000. The following Type-A Program was audited as major for Federal and DHS purposes:
AL Program
93.778 Medicaid Cluster
DHS Mental Health/Intellectual Disabilities Program
The amount expended under programs audited as major federal programs for the year ended June 30, 2024 totaled $1,553,350 or 99.4% of total federal awards.