Title: Basis of Presentation
Accounting Policies: This schedule has been prepared on the accrual basis of accounting. Revenues are recorded for financial reporting purposes when the College has met the qualifications for the respective program. Expenditures reported on the Schedule also are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The College has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The College has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of El Paso County Community College District under programs of the federal government for the year ended August 31, 2022. 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 the College, it is not intended to and does not present the financial position, changes in net position or cash flows of the College.
Title: Student Loans Processed and Administrative Cost Recovered
Accounting Policies: This schedule has been prepared on the accrual basis of accounting. Revenues are recorded for financial reporting purposes when the College has met the qualifications for the respective program. Expenditures reported on the Schedule also are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The College has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The College has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
U.S. Department of Education- 84.268 Federal Direct Student Loans processed $2,073,418, total loans processed and administrative cost recovered $2,073,418.
Title: Amounts Passed Through By the College
Accounting Policies: This schedule has been prepared on the accrual basis of accounting. Revenues are recorded for financial reporting purposes when the College has met the qualifications for the respective program. Expenditures reported on the Schedule also are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The College has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The College has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Of the federal expenditures presented in the schedule, the college provided awards to subrecipient as follows: ALN#- 93.859, Primary Award- CL004956, Recipient - University of Texas at El Paso, Amount provided to Subrecipient - $28,606; ALN#- 93.859, Primary Award- CL004955, New Mexico State University, Amount provided to Subrecipient - $16,947.
Title: Federal Assistance Reconciliation
Accounting Policies: This schedule has been prepared on the accrual basis of accounting. Revenues are recorded for financial reporting purposes when the College has met the qualifications for the respective program. Expenditures reported on the Schedule also are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The College has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The College has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Federal Revenue per Schedule E consists of the following: Per Schedule of Expenditures of Federal Awards of $100,088,388 minus Direct Student Loans of $2,073,418, minus funds passed through to others of $43,553, minus Non-Operating Federal Revenue from Schedule C of $93,938,722 which provides the Total Federal Revenue per Schedule A of $4,032,695.