Notes to SEFA
Title: Indirect Costs
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles generally accepted in the United States and the amounts presented are derived from the College's general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Indirect Costs are included in the reported expenditures to the extent they are included in the financial reports used as the source for the expenditures presented.
Title: Matching Costs
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles generally accepted in the United States and the amounts presented are derived from the College's general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Matching costs, i.e., the college's share of certain program costs, are not included in the reported expenditures.
Title: Pass-Through Programs
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles generally accepted in the United States and the amounts presented are derived from the College's general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Where the college receives funds from a government entity other than the federal government (pass-through), the funds are accumulated based upon the Assistance Listing number advised by the pass-through grantor. Identifying numbers, other than Assistance Listing numbers, which may be assigned through grantors are not maintained in the College's financial management system. The college has identified certain pass-through identifying numbers and included them in the schedule of federal awards, as available.
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles generally accepted in the United States and the amounts presented are derived from the College's general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of the Suffolk County Community College (College), 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, and it is not intended to and does not present the financial position ofthe respective changes in the financial position of the business-type activities of the College
Title: Student Loans
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles generally accepted in the United States and the amounts presented are derived from the College's general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The College also participates in the Guaranteed Student Loan program, Assistance Listingnumber 84.268, which offers low-interest loans to students and parents. The College is partly responsible for administering the loan program. During the fiscal year 2021-2022, total loans under this program amounted to $6,801,022 including supplemental loans to students.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles generally accepted in the United States and the amounts presented are derived from the College's general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported on the schedule are presented in conformity with accounting principles generally accepted in the United States and the amounts presented are derived from the College's general ledger.