Notes to SEFA
Accounting Policies: Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awardactivity of Collaboration Center Foundation (the Foundation) under programs of the federal government for theyear ended December 31, 2022. The information in this schedule is presented in accordance with the requirementsof Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (the Uniform Guidance). Because the Schedule presents only a selectedportion of the operations of the Foundation, it is not intended to and does not present the financial position,changes in net assets, or cash flows of the Foundation.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. For cost reimbursement grants, federal awardsare considered expended when the transactions occur. For program income, federal awards are consideredexpended when funds are received or used.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.