Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Kilgore College has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. If Grant Contracts specify an indirect cost rate allowable, that rate is used for those specific Grants only.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes
the federal grant activity of Kilgore Junior College District (the District) under programs of
the federal government for the year ended August 31, 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 the District, it is not intended to and does not
present the financial position, changes in net position or cash flows of the District.