Notes to SEFA
Accounting Policies: Notes to Schedule of Expenditures of Federal AwardsYear Ended August 31, 2022Note 1: Federal Assistance ReconciliationFederal Grants and Contracts Revenue - per Schedule A $13,782,709 Add: Non-Operating Federal Revenue from Schedule C 7,205,186 Add: Wm. D. Ford Direct Loans 6,348,373 Add: GEER - Texas Reskilling Support Fund revenue received in FY 2021 and expended in FY 2022 552,356 Total Federal Expenditures per Schedule of Expenditures of Federal Awards $27,888,624 Note 2: Significant Accounting Policies Used in Preparing the ScheduleThe expenditures included in the schedule are reported for the College's fiscal year. Expenditure reports to funding agencies are prepared on the award period basis. The expenditures reported above represent funds, which have been expended by the College for the purposes of the award. The expenditures reported above may not have been reimbursed by the funding agencies as of the end of the year. Some amounts reported in the schedule may differ from amounts used in the preparation of the financial statements. Separate accounts are maintained for the different awards to aid in the observance of limitations and restrictions imposed by the funding agencies. The College has followed all applicable guidelines issued by various entities in the preparation of the schedule.Note 3: Expenditures Not Subject to Federal Single AuditNoneNote 4: Student Loans Processed and Administrative Costs Recovered - Not Included in ScheduleNoneNote 5: Nonmonetary Federal Assistance ReceivedNoneNote 6: Amounts Passed Through by the CollegeThe following amounts were passed through to the listed sub-recipients by the College.U.S. Department of Education GEER Reskilling (ALN 84.425) Central Texas College & Texas A&M University Central Texas $64,500 CARES Growing Resilience through Information Tech (ALN 84.425P) Temple Independent School District $57,944 Creating a Culture of STEM (ALN 84.031C) Texas A&M University Central Texas $15,837 Total amount passed through by the College $138,281
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.