Notes to SEFA
Title: RELATIONSHIP TO FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal and state awards (the schedule) includes the federal and state grant activity of South Texas College of Law Houston, Inc. (College) under programs of the federal and state government for the nine months ending May 31, 2022. The information in the 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) and the State of Texas Uniform Grant Management Standards (UGMS). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Expenditures in the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance or UGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. If the College is required to match certain federal or state assistance, as defined by the grant agreements, no such matching has been included as expenditures in the schedule. The Texas Access to Justice Foundation grant agreements require the College to have an audit in accordance with UGMS even though the College doesn't have $750,000 or more in state program expenditures.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
See table in SEFA Note 3.
Title: SUBRECIPIENTS, NON-CASH ASSISTANCE, FEDERAL INSURANCE, LOANS, AND LOAN GUAR
Accounting Policies: The accompanying schedule of expenditures of federal and state awards (the schedule) includes the federal and state grant activity of South Texas College of Law Houston, Inc. (College) under programs of the federal and state government for the nine months ending May 31, 2022. The information in the 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) and the State of Texas Uniform Grant Management Standards (UGMS). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Expenditures in the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance or UGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. If the College is required to match certain federal or state assistance, as defined by the grant agreements, no such matching has been included as expenditures in the schedule. The Texas Access to Justice Foundation grant agreements require the College to have an audit in accordance with UGMS even though the College doesn't have $750,000 or more in state program expenditures.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The College did not provide any federal funds to subrecipients nor did they receive any federal non-cash assistance, insurance, loans, or loan guarantees.