Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the College under programs of the federal government for the year ended June 30, 2025. All federal awards received directly from federal agencies, as well as federal awards passed through other governmental agencies, are included on the schedule. 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 College, it is not intended to and does not present the financial position, changes in net position, or cash flows of the College.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Pass-through entity identifying numbers are presented where available.
The College is responsible only for the performance of certain administrative duties with respect to the Federal Direct Loan Program and, accordingly, it is not practical to determine the balance of loans outstanding to students and former students of the College under this program at June 30, 2025.
Of the federal expenditures presented in this schedule, the College provided no federal awards to subrecipients.
The College has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.