Notes to SEFA
The schedule of expenditures of federal awards includes the federal grant activity of Glencoe Education Foundation, Inc. (the Foundation) 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 OMB 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 Foundation, it is not intended to and does not present the financial position or changes in net assets of the Foundation.
Amounts reported in the accompanying schedule agree with the amounts reported in the related federal financial reports except for changes made to reflect amounts in accordance with accounting principles generally accepted in the United States of America.
Non-cash assistance is reported in the schedule at the fair market value of the USDA commodities received and disbursed.