Title: BASIS OF ACCOUNTING
Accounting Policies: Expenditures reported on the Schedule are presented 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The expenditures included in the Schedules are reported for the Colleges fiscal year ended August 31, 2022. Expenditure reports to funding agencies are prepared on the award period basis. The expenditures reported represent funds which have been expended by the College for the purposes of the awards. The expenditures reported above may not have been reimbursed by the funding agencies as of the end of the fiscal year. Some amounts reported in the Schedules may differ from amounts used in the preparation of the basic financial statements. Separate accounts are maintained for the different awards to aid in the observance of limitations and restrictions imposed by the funding agencies. The College has followed all applicable guidelines issued by various funding agencies in the preparation of the Schedules.
Title: RECONCILIATION TO FINANCIAL STATEMENTS
Accounting Policies: Expenditures reported on the Schedule are presented 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The following reconciles federal award expenditures as included in the Schedule to the expenditures reported in the financial statements of the Organization for the year ended August 31, 2022:Total revenue per Schedule A $ 49,295,180 Add: Federal revenue, non-operating 111,706,561 Add: Federal direct student loans 28,678,693 Less: Fall tuition-related grants deferred to next year (2,931,290) Total expenditures per the schedule of expenditures of federal awards $ 186,749,144
Title: AMOUNTS PASSED THROUGH BY THE COLLEGE - FEDERAL
Accounting Policies: Expenditures reported on the Schedule are presented 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The following amounts were passed through to the listed sub-recipients by the College.These amounts were funded by the Small Business Administration for the North Texas Small BusinessDevelopment Center, ALN 59.037. (Award 1-603001-EZ-00278 and 2-603001-EZ-01966)Collin College $ 396,903Grayson College 162,471McLennan Community College 159,673Navarro College 137,743North Central Texas College 211,267Northeast Texas Community College 181,795Paris Junior College 106,341Tarrant County College 316,982Trinity Valley Community College 89,862Tyler Junior College 239,729University of Texas at Tyler 213,001Total $ 2,215,767These amounts were funded by the Small Business Administration for the North Texas Small BusinessDevelopment Center, ALN 59.037. (Award 0-603001-EZ-0119) COVID-19Collin College $ 25,810Grayson College 130,946McLennan Community College 70,488Navarro College 113,248North Central Texas College 193,548Northeast Texas Community College 100,793Paris Junior College 96,790Tarrant County College 235,028Trinity Valley Community College 62,634Tyler Junior College 143,534University of Texas at Tyler 101,818Total $ 1,274,637These amounts were funded by the US Department of Education for the HSI STEM IPSS, ALN84.031C. (Award P031C160035)University of North Texas at Dallas $ 250,888These amounts were funded by the US Department of Education for the THECB GEER ESFEducation Stabilization Fund, ALN 84.425C. (Award 25705)Tarrant County College District $ 2,476These amounts were funded by the Department of Labor for the WIOA Dislocated WorkerProgram, ALN 17.278 (Award 0622ATP002)Independent Electrical Contractors-Dallas $ 12,183Lubbock Chapter of the Independent ElectricalContractor's, Inc. 771$ 12,954Total Amounts Passed Through Federal $ 3,756,722
Title: AMOUNTS PASSED THROUGH BY THE COLLEGE - STATE
Accounting Policies: Expenditures reported on the Schedule are presented 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The following amounts were passed through to the listed sub-recipients by the College.These amounts were funded by State Appropriation for the North Texas Small BusinessDevelopment Center.Collin College $ 98,603Grayson College 49,050McLennan Community College 114,913Navarro College 90,226North Central Texas College 113,236Northeast Texas Community College 83,807Paris Junior College 28,708Tarrant County College 51,751Trinity Valley Community College 89,099Tyler Junior College 48,125University of Texas at Tyler 94,347Sub-total $ 861,865The following amounts were passed through to the listed sub-recipients by the College. Theseamounts were funded by Texas Workforce Commission (Award 0622ATP002)Independent Electrical Contractors-Dallas $ 308,415Lubbock Chapter of the Independent ElectricalContractor's, Inc. 19,522Sub-total $ 327,937Total Amounts Passed Through State $ 1,189,802
Title: STUDENTS LOANS PROCESSED AND ADMINISTRATIVE COSTS RECOVERED
Accounting Policies: Expenditures reported on the Schedule are presented 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Although Direct Loans are made to students (not the institution of higher education)as confirmed in the June 2010 Compliance Supplement, page 5-3-48, they alsorecommend the amounts for such loans be included on the face of the Schedule ofExpenditures of Federal Awards (SEFA). Subtracting the effect of including these loanson the SEFA, actual expenditures of Federal awards for the 2022 fiscal year are$155,754,952.Federal GrantorALN Number/Program NameNew LoansProcessedAdministrativeCostRecoveredTotalLoans Processedand AdministrativeCost RecoveredDepartment of Education84.268 Direct Loans $ 28,678,693 - $ 28,678,693