Notes to SEFA
The schedule of expenditures of federal awards presents only a selected portion of the activities of the College. It is not intended to and does not present either the financial position, changes in activities, or cash flows of the College. The financial activity for the aforementioned awards is reported in the College's statement of revenues, expenses and changes in net assets. In certain programs, the expenditures reported in the basic financial statements may differ from the expenditures reported in the schedule of expenditures of federal awards due to program expenditures exceeding grant or contract budget limitations which are not reported as expenditures in the schedule of expenditures of federal awards.