Notes to SEFA
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of the Butler County Community College (College) under programs of the federal government for the year ended June 30, 2025. 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 or changes in net position of the College.
During the year ended June 30, 2025, the College processed $1,656,922 of new loans under the Federal Direct Student Loans Program. New loans made during the fiscal year relating to these programs are considered current year expenditures in the Schedule. Since these programs are administered by outside financial institutions, Federal Direct Student Loans are not reflected within the financial statements of the College, as revenue and their subsequent expense. Funds are received by the College and recorded as payables until disbursed.