Notes to SEFA
Pass-Through Note 1: Federal Assistance Reconciliation Disbursements Federal revenue received by Texas Southmost College District: Federal grants and contracts revenue per Schedule A $ 3,501,333 Federal grants and contracts revenue per Schedule C 17,160,686 Total Federal Revenues $ 20,662,019 Note 2: Significant Accounting Policies Used in Preparing the Schedule Note 3: Expenditures not Subject to Federal Single Audit All expenditures are subject to Federal Single Audit. Note 4: Student Loans Processed and Administrative Costs Recovered Department of Education 84.268 Federal Direct Student Loans (includes PLUS, subsidized and unsubsidized) New Loans Processed $ 2,300,182 Administrative Costs Recovered - Total Loans Processed & Admin Costs Recovered $ 2,300,182 Note 5: Non-monetary Federal Assistance Received The District did not receive any non-monetary federal assistance this fiscal year. Note 6: Indirect Costs The District did not elect to apply the 10% de minimis indirect cost rate.