Notes to SEFA
Federal Grants and Contracts revenue - per Schedule A $ 3,766,039 Add: Non Operating Federal Revenue from Schedule C 15,979,789 Add: Direct Student Loans 1,090,761 20,836,589
The expenditures included in the schedule are reported for the college's fiscal year. Expenditure reports to funding agencies are prepared on the award period basis. The expenditures reported above represent funds that have been expended by the college for the purpose of the award. 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 schedule 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 limitation and restrictions imposed by the funding agencies. The college has followed all applicable guidelines issued by various entities in the preparation of the schedule.
The College has elected not to use the 10 percent de minis indirect cost rate allowed under the Uniform Guidance.