Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are presented on the same basis of accounting andthe same significant accounting policies, as applicable, as those used for the financialstatements. Such expenditures are recognized following the cost principles contained inthe Uniform Guidance, wherein certain types of expenditures are not allowable or arelimited as to reimbursement.
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 (the Schedule) includesthe federal award activity of the 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 the College, it is not intended to and does not present the financial position, changes in net position, or cash flows of the College.
Title: Other Items
Accounting Policies: Expenditures reported on the Schedule are presented on the same basis of accounting andthe same significant accounting policies, as applicable, as those used for the financialstatements. Such expenditures are recognized following the cost principles contained inthe Uniform Guidance, wherein certain types of expenditures are not allowable or arelimited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The pass-through entities did not assign identifying numbers to the remaining assistancelisting numbers of this College.