Notes to SEFA
The schedule of expenditures of federal awards reflects federal expenditures for all individual grants which were active during the fiscal year.
The Commonwealth of Pennsylvania distributes federal surplus food to institutions (schools, hospitals, and prisons) and to the needy. On the schedule of expenditures of federal awards, expenditures from receipts passed through the Pennsylvania Department of Agriculture reported under ALN 10.555, represent surplus food consumed by the School during the 2024 - 2025 fiscal year.
During the year ended June 30, 2024, the School was awarded an $50,920,000 loan from the Chester County Industrial Development Authority for construction of a new school building. The loan is fully draw down, at the end of construction the loan will be refinanced with U.S. Department of Agriculture as a federal loan. Expenditures in the amount of $5,417,617 are reflected in the schedule of expenditures of federal awards. The loan balance at June 30, 2024 was $50,920,000.