Notes to SEFA
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federalaward activity of Chattahoochee Valley Community College under programs of the federal government forthe year ended September 30, 2022. The information in this Schedule is presented in accordance with therequirements of Title 2 U. S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedulepresents only a selected portion of the operations of Chattahoochee Valley Community College, it is notintended to and does not present the financial position, changes in net position, or cash flows ofChattahoochee Valley Community College.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement.