Bosque Higher Education Authority Inc

“Liability for uncertain tax positions: the authority is a not-for-profit public benefit corporation, which is exempt from federal income taxes under section 501(a) of the internal revenue code as an organization described in section 501(c)(3). The authority is also exempt from state income tax. Income that is not related to its exempt purposes, less applicable deductions, is subject to federal income taxes. The authority had no net unrelated business income for the years ended june 30, 2022 and 2021. As such, no provision for federal or state income taxes has been provided in the accompanying financial statements. The authority files federal information returns in the united states. The authority may be subject to examinations for the tax years ended june 30, 2019, and later by the internal revenue service. The authority is not currently under examination for any open tax year. The authority follows the accounting standard related to the accounting for uncertainty in income taxes recognized in the authority's financial statements. The standard prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The authority currently has no uncertain tax positions.”

“Reconciliation of revenue per audited financials with return: department of education rebate fees $(476,366) adjustment for merger $1,048,510,095”

“Reconciliation of revenue per audited financials with return: bad debt recovery $157,803”

“Reconciliation of expenses per audited financials with return: bad debt recovery $(157,803) adjustment from merger $17,327,376”

“RECONCILIATION OF EXPENSES PER AUDITED FINANCIALS WITH RETURN: DEPARTMENT OF EDUCATION REBATE FEES $476,366 On April 30, 2022, the Authority merged with affiliated entity, Acapita Education Finance Corporation (AEFC), with the Authority being the surviving entity. As entities under common control in accordance with the appropriate accounting guidance, the financial statements, for all periods presented, have been accounted for on a retrospective basis as if the merger occurred prior to the beginning date of the financial statements being presented. For tax purposes, we are removing the activity that was reported on the final 04/30/2022 Acapita Education Finance Corporation (AEFC) Form 990.”