Notes to SEFA
Title: Note 3. Federal Direct Student Loan Program
Accounting Policies: Note 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
grant activity of Jefferson State Community College (the College) and is presented on the accrual basis
of accounting. 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 (the Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The College did not elect to charge a de minimis rate of 10% for all federal awards.
The College participates in the Federal Direct Student Loan Program (the Program), Federal Assistance
Listing Number 84.268, which includes the Federal Subsidized Direct Loan and the Federal Unsubsidized
Direct Loan programs. The College is not responsible for collection of these loans. The amount of
disbursements under the Program during the current year is presented in the schedule of expenditures
of federal awards.
Title: Note 4. Subrecipients
Accounting Policies: Note 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
grant activity of Jefferson State Community College (the College) and is presented on the accrual basis
of accounting. 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 (the Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The College did not elect to charge a de minimis rate of 10% for all federal awards.
The College did not provide federal awards to any subrecipients during the year ended September 30, 2024.