Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of CITY Center for Collaborative Learning under programs of the federal government for the year ended June 30, 2022. The information in this schedule is presented in accordance with the requirements of Uniform Grant Guidance, Audits of States, Local Governments, and Non-Profit Organizations. Because the Schedule presents only a selected portion of the operations of the CITY Center for Collaborative Learning, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the CITY center for Collaborative Learning. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. 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.
De Minimis Rate Used: N
Rate Explanation: CITY Center for Collaborative has not elected to use the 10-percent de minims indirect cost rate as allowed under the Uniform Guidance.