Title: NOTE 1 - GENERAL
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of
accounting. Expenditures are recognized following, as applicable, to 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. Negative amounts shown on the Schedule, if any, represent
adjustments or credits made in the normal course of business to amounts reported as expenditures in
prior years. Pass-through entity identifying numbers are presented where available. In addition, the
College did not pass-through any federal awards to subrecipients during the year ended June 30, 2024.
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.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal
grant activity of Clark State College under programs of the federal government for the year ended June
30, 2024. 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 (Uniform Guidance). Because the Schedule presents only a
selected portion of the operations of Clark State College, it is not intended to and does not present the
financial position, changes in net position, or cash flows of Clark State College.
Title: NOTE 3 – FEDERAL WORK-STUDY AND FEDERAL SEOG WAIVER
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of
accounting. Expenditures are recognized following, as applicable, to 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. Negative amounts shown on the Schedule, if any, represent
adjustments or credits made in the normal course of business to amounts reported as expenditures in
prior years. Pass-through entity identifying numbers are presented where available. In addition, the
College did not pass-through any federal awards to subrecipients during the year ended June 30, 2024.
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.
For the year ended June 30, 2024, the College received a waiver from the Department of Education for
the Institutional Share Requirement under the Federal Work-study and Federal Supplemental
Educational Opportunity Grant programs.
Title: NOTE 4 – LOAN PROGRAMS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of
accounting. Expenditures are recognized following, as applicable, to 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. Negative amounts shown on the Schedule, if any, represent
adjustments or credits made in the normal course of business to amounts reported as expenditures in
prior years. Pass-through entity identifying numbers are presented where available. In addition, the
College did not pass-through any federal awards to subrecipients during the year ended June 30, 2024.
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.
The College originates but does not provide funding under the Direct Loan Program. The amount
presented represents the value of new Direct Loans awarded by the Department of Education during the
year.