Notes to SEFA
Title: 1. BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
grant activity of Jefferson State Community College (the College) and is presented on the accrual
basis of accounting. 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 (the Uniform
Guidance).
De Minimis Rate Used: N
Rate Explanation: The College did not elect to charge a de minimis rate of 10% for all federal awards.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
grant activity of Jefferson State Community College (the College) and is presented on the accrual
basis of accounting. 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 (the Uniform
Guidance).
Title: 2. INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
grant activity of Jefferson State Community College (the College) and is presented on the accrual
basis of accounting. 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 (the Uniform
Guidance).
De Minimis Rate Used: N
Rate Explanation: The College did not elect to charge a de minimis rate of 10% for all federal awards.
The College did not elect to charge a de minimis rate of 10% for all federal awards.
Title: 3. FEDERAL DIRECT STUDENT LOAN PROGRAM
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
grant activity of Jefferson State Community College (the College) and is presented on the accrual
basis of accounting. 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 (the Uniform
Guidance).
De Minimis Rate Used: N
Rate Explanation: The College did not elect to charge a de minimis rate of 10% for all federal awards.
The College participates in the Federal Direct Student Loan Program (the Program), Federal
Assistance Listing Number 84.268, which includes the Federal Subsidized Direct Loan and the
Federal Unsubsidized Direct Loan programs. The College is not responsible for collection of these
loans. The amount of disbursements under the Program during the current year is presented in the
schedule of expenditures of federal awards.