Notes to SEFA
Title: Adjustments and Transfers
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Kellogg Community College (the “College”) under programs of the federal government for the year ended June 30, 2023. The information in the 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"). 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.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The pass-through entity identifying numbers are presented where available.
The College has elected not to use the 10 percent de minimis indirect cost rate to recover indirect costs as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The College has elected not to use the 10 percent de minimis indirect cost rate to recover indirect costs as allowed under the Uniform Guidance.
As allowable, and in accordance with the federal regulations issued by the U.S. Department of Education, the College transferred $36,430 from the Federal Work-Study (FWS) Program (ALN #84.033) to the Federal Supplemental Education Opportunity Grant (SEOG) Program (ALN #84.007) for the award year 2022-2023. In addition, the College carried forward $11,660 of SEOG and $7,221 of FWS funds from the 2021-2022 award year to 2022-2023. The College is carrying forward $14,572 of FWS funds from the 2022-2023 award year to be spent in 2023-2024.