Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Lindsey Wilson University, Inc. and Affiliate (the “University”) under programs of the federal government for the year ended June 30, 2025. 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 University, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the University.
Expenditures for the Vocational Rehabilitation for Disabled Veterans and the Post-9/11 Veterans Educational Assistance were excluded from the major program determination during the audit. The above grants have no audit requirement. Their inclusion in the schedule of expenditures of federal awards is for clarity purposes only.
The following schedule is a reconciliation of total expenditures as shown on the schedule of expenditures of federal awards to the revenue items shown as Government Grants and Tuition and Fees on the Consolidated Statement of Activities, which is included as part of the University's basic consolidated financial statements. Expenditures per Schedule of Expenditures of Federal Awards $ 23,315,113 Less: Government Grants as shown on the Consolidated Statement of Activities (881,915) Less: Higher Education Institutional Aid funds invested in Endowment (160,000) Plus: Tuition and Fees Paid from Other Sources 16,799,999 TOTAL: Tuition and Fees, net as shown on the Consolidated Statement of Activities $ 39,073,197