The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the AMSI under programs of the federal government for the year ended June 30, 2024 and 2023. The information in this schedule is presented in accordance with the requirements of 2 CFR, Part 200, Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the AMSI, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the AMSI. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the financial statements.
State or local government redistributions of federal awards to AMSI, known as pass–through awards, shouldbe treated by AMSI as though they were received directly from the federal government. The Uniform Guidance requires the schedule to include the name of the pass–through entity and the identifying number assigned by the pass-through entity for the federal awards received as a sub-recipient. Pass-through entity identifying numbers are presented when available. Numbers identified as N/A are not applicable and numbers identified as N/AV are not available.
The Uniform Guidance defines a cluster of programs as a grouping of closely related programs that share common compliance requirements. According to this definition, the U.S. Office of Management and Budget has identified the WIOA Program as a cluster.
The reconciliation of expenses per financial statements to the Schedule of Expenditures of Federal Awards (SEFA) is as follows:
Total expenses per Schedule of Expenditures of Federal Awards $17,732,028
Less: Capital expenditures (Federal Funds) (198,202)
Plus: Depreciation 169,637
Bad debts 20,306
Loss on disposition of assets 1,088
Nonfederal expenditures 6,743,192
Expenditures per Statement of Activities and Changes in Net Assets $24,108,049