Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The schedule of expenditures of federal awards is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The College did not utilize a 10% deminimus indirect cost rate for any of its federal programs.
The accompanying Schedule of Expenditures of Federal Awards includes federal award activity of Western Community College Area. 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). Because the schedule presents only a selected portion of the operations of the College, it's not intended to and does not present the financial position, changes in net assets, or cash flows of the College.
Title: Subrecipients
Accounting Policies: The schedule of expenditures of federal awards is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The College did not utilize a 10% deminimus indirect cost rate for any of its federal programs.
Western Community College Area provided no federal awards to subrecipients.
Title: Use of Estimates
Accounting Policies: The schedule of expenditures of federal awards is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The College did not utilize a 10% deminimus indirect cost rate for any of its federal programs.
The preparation of the schedule of expenditures of federal awards in accordance with the requirements of the Uniform Guidance allwos for mangement to make estimates and assumptions that could affect the reported amounts of expenditures for the year ended. Actual results could differ from that estimate.