Notes to SEFA
Federal Assistance Reconciliation Direct federal grants and contracts revenue per Schedule A $ 2,980,000 Direct federal revenue, non-operating per Schedule C 7,692,204 Administration cost recovery (included in other revenue) 8,055 Total Federal Expenditures per Schedule of Expenditures of Federal Awards $ 10,680,259
See Note 2 of the notes to the basic financial statements for the District's significant accounting policies. The expenditures included in the schedule are reported for the District'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 District for the purposes of the award. The expenditures reported above may not have been reimbursed by the funding agencies as of the end of the fiscal year. Separate accounts are maintained for the different awards to aid in the observance of limitations and restrictions imposed by the funding agencies. The District has followed all applicable guidelines issued by various entities in the preparation of the schedule.
All expenditures are subject to Federal Single Audit.
Federal Grantor/ Administrative Total Loans Assistance Listing Number/ New Loans Costs Processed & Admin. Program Name Processed Recovered Costs Recovered Department of Education 84.268 Federal Direct Student Loans (includes PLUS, subsidized and unsubsidized) $ 1,202,434 $ - $ 1,202,434
No nonmonetary federal assistance was received.
The District has not elected to use the 10% de minimis indirect cost rate.