Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) reflects the expenditures of Hobart Institute of Welding Technology (the “Institute”) under programs of the federal government for the year ended December 31, 2024. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 Institute, it is not intended to, and does not, present the financial position, activities and cash flows of the Institute for the year ended December 31, 2024.
Certain federal programs require the Institute to contribute non-federal funds (matching funds) to support federally-funded programs. The Institute has complied with the matching requirements. The expenditure of non-federal (matching) funds is not included on the Schedule.