Notes to SEFA
Title: See note content
Accounting Policies: See notes
De Minimis Rate Used: N
Rate Explanation: See above
NOTE 1. SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The Schedule of Expenditures of Federal Awards includes the federal grant activity of Williamsburg
Technical College (the “College”) and is prepared on the accrual basis of accounting.
Program Type Determination
Type A programs are defined as federal programs with federal expenditures exceeding $750,000.
The threshold of $750,000 was used in distinguishing between Type A and Type B programs.
Method of Major Program Selection
The risk-based approach was used in the selection of federal programs to be tested as major
programs. The College qualified as a high-risk auditee for the fiscal year ended June 30, 2023.
NOTE 2. FEDERAL NON-CASH ASSISTANCE
The College did not receive or expend federal awards in the form of non-cash assistance and had
no federal loan guarantees at June 30, 2023.
NOTE 3. DE MINIMIS INDIRECT COST RATE
The College chose