Notes to SEFA
Accounting Policies: Note 1 - Basis of PresentationThe accompanying Schedule of Expenditures of Federal Awards (the Schedule)includes the federal award activity of Roxbury Community College (the College)under programs of the Federal Government for the year ended June 30, 2022. Theinformation on this Schedule is prepared in accordance with the requirements of Title 2U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards (Uniform Guidance).Because the Schedule presents only a selected portion of the operations of the College,it is not intended to, and does not, present the financial position, changes in net positionor cash flows of the College.Note 2 - Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in theUniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.