Notes to SEFA
Title: FEDERAL LOAN PROGRAMS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards of Greenville Technical College. The reporting entity is defined in Note 1 of the College'sfinancial statements. 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 (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 of the College's financial statements. Greenville Technical College elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The College has students who have approved loans which were received by those students duringthe current year. The College is not the lender, it only processes them for the lender the studentchooses. The totals and types of loans received for the current fiscal year are: