Notes to SEFA
Title: Federal Assistance Resonciliation
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrualbasis of accounting. Revenue is recognized when earned and expenditures are recognizedwhen incurred. Revenues are reported only to the extent of expenditures for the current year.Federal receivables represent amounts expended in excess of that received.
De Minimis Rate Used: N
Rate Explanation: The College has elected not to use the 10-percent de Minimis indirect cost rate allowed under the Uniform Guidance.
Federal Grants and Contracts Revenue - per Schedule of Operating Revenues (Schedule A) 72,542,958
Federal Revenue, Non-Operating - per Schedule of Non-Operating Revenues and Expenses (Schedule C)
74,374,486 Federal Direct Student Loan Program38,806,090
Total Federal Revenues per Schedule of Expenditures of Federal Awards (Schedule E) 185,723,534
Title: Adult Education and Literacy FY23
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrualbasis of accounting. Revenue is recognized when earned and expenditures are recognizedwhen incurred. Revenues are reported only to the extent of expenditures for the current year.Federal receivables represent amounts expended in excess of that received.
De Minimis Rate Used: N
Rate Explanation: The College has elected not to use the 10-percent de Minimis indirect cost rate allowed under the Uniform Guidance.
U.S Department of Education Assistance Listing Number 84.002 represents the Federal and El Civics funding streams.Included in the Federal funding stream are amounts to be allocated by the pass-through grantor Texas WorkforceCommission to the TANF and State funding streams.However at the time of producing Schedules E and F the Texas Workforce Commission had not advised ofthese allocations for FY23. Thus the expenditures reported on this Schedule E are shown in aggregateas U.S. Department of Education Assistance Listing Number 84.002.
Title: Disaster Grants - Public Assistance
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrualbasis of accounting. Revenue is recognized when earned and expenditures are recognizedwhen incurred. Revenues are reported only to the extent of expenditures for the current year.Federal receivables represent amounts expended in excess of that received.
De Minimis Rate Used: N
Rate Explanation: The College has elected not to use the 10-percent de Minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes $483,630 of grant expenditures approved by FEMA that were incurred in a prior fiscal year.
Title: Texas Reskilling Grant
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrualbasis of accounting. Revenue is recognized when earned and expenditures are recognizedwhen incurred. Revenues are reported only to the extent of expenditures for the current year.Federal receivables represent amounts expended in excess of that received.
De Minimis Rate Used: N
Rate Explanation: The College has elected not to use the 10-percent de Minimis indirect cost rate allowed under the Uniform Guidance.
U.S Department of Education Assistance Listing Number 84.425C represents the Supplemental Assistance to Institutions of Higher Education funding stream.Included in the Federal funding stream are amounts to be allocated by the pass-through grantor Texas Higher Education Coordinating Board.
Title: Sub-Recipients
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrualbasis of accounting. Revenue is recognized when earned and expenditures are recognizedwhen incurred. Revenues are reported only to the extent of expenditures for the current year.Federal receivables represent amounts expended in excess of that received.
De Minimis Rate Used: N
Rate Explanation: The College has elected not to use the 10-percent de Minimis indirect cost rate allowed under the Uniform Guidance.
None
Title: Expenditures Not Subject to Federal Single Audit
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrualbasis of accounting. Revenue is recognized when earned and expenditures are recognizedwhen incurred. Revenues are reported only to the extent of expenditures for the current year.Federal receivables represent amounts expended in excess of that received.
De Minimis Rate Used: N
Rate Explanation: The College has elected not to use the 10-percent de Minimis indirect cost rate allowed under the Uniform Guidance.
None
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrualbasis of accounting. Revenue is recognized when earned and expenditures are recognizedwhen incurred. Revenues are reported only to the extent of expenditures for the current year.Federal receivables represent amounts expended in excess of that received.
De Minimis Rate Used: N
Rate Explanation: The College has elected not to use the 10-percent de Minimis indirect cost rate allowed under the Uniform Guidance.
The schedule of expenditures of federal awards presents the federal grant activity of Lone StarCollege (the "College") for the year ended August 31, 2023. Office of Management and Budget's (OMB) Uniform Guidance and includes awards received directly from federal agencies as well as federal awards passed through other government agencies.