Notes to SEFA
The accompanying schedule of expenditures of federal and state awards (the “SEFSA”) presents the activities of all federal and state financial awards programs of the North Carolina Biotechnology Center (the “Center”), under the programs of the federal and state government for the year ended June 30, 2025. The information in this SEFSA 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 and the NC GS § 143C-6-23 and 09 NCAC 03M requirements. Because the SEFSA presents only a selected portion of the operations of the Center, it is not intended to, and does not, present the financial position, changes in net position or cash flows of the Center.