Notes to SEFA
Title: SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Manor College 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 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 Schedule presents only a selected portion of the operations of Manor College, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Manor College.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The College did not pass any awards through to subrecipients.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Manor College 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 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 Schedule presents only a selected portion of the operations of Manor College, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Manor College.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards presents the expenditures of all federal award programs of Manor College using the accrual basis of accounting.
Title: MATCHING CONTRIBUTIONS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Manor College 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 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 Schedule presents only a selected portion of the operations of Manor College, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Manor College.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The amounts reported in the accompanying Schedule of Expenditures of Federal Awards do not include matching contributions made by the College. The College made matching contributions to the following federal awards: Federal Supplemental Educational Opportunity Grants $21,475 Federal Work-Study Program $6,410 $27,885