Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting, which is described in Note
1 to the College’s basic financial statements. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The College elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of
Community College District of St. Louis under programs of the federal government for the year ended June 30, 2023. The
information in this Schedule is presented in accordance with the requirements of the 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 Community College
District of St. Louis, it is not intended to and does not present the financial position, changes in net position, or cash flows
of Community College District of St. Louis.
Title: Loan Programs
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting, which is described in Note
1 to the College’s basic financial statements. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The College elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The College participates in the Federal Direct Student Loan Program, which provides federal loans directly to the students
rather than through private lending institutions. The College is responsible only for the origination of the loan (e.g.,
determining student eligibility and disbursing loan proceeds to the borrower). The Direct Loan Servicer is then responsible
for the overall servicing and collection of the loan. The amount reported on the schedule of expenditures of federal awards
for the loan program represents the total value of the loans awarded and paid to the College’s students during the year
ended June 30, 2023.