Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Wor-Wic Community College and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements.
During the year ended June 30, 2025, the College processed the following amount of new loans under the Federal Direct Student Loans Program. Since the program is administered by outside financial institutions, new loans made during the year relating to this program are considered current year expenditures on this schedule. Federal ALN - 84.268. Program Name - Federal Direct Student Loans. Loan Expenditures - $1,670,661.