Notes to SEFA
Federal Revenues – per Schedule of Expenditures of Federal Awards: Federal Grants and Contracts – per Schedule A $ 7,159,020 Federal Grants and Contracts – per Schedule C 86,146,147 Direct Loans 29,180,474 Veterans’ Administration (73,392) Total Federal Revenues per Schedule of Expenditures of Federal Awards $ 122,412,249
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 which 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. Some amounts reported in the schedule may differ from amounts used in the preparation of the financial statements. Separate accounts are maintained for the different awards to aid in the observance of limitations and restrictions imposed by the funding agencies. Management believes they have followed all applicable guidelines issued by various entities in the preparation of the schedule.
Federal Grantor/ ALN Number/Program Name New Loans Processed Admin Cost Recovered Total Loans Processed & Admin Cost Recovered U.S. Department of Education: 84.268 Direct Loans $ 29,180,474 $ $ 29,180,474
The District has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.