Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Northern Wyoming Community College District (the District), under programs of the federal government for the year ended June 30, 2025. The information is presented in accordance with the requirements of the 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 District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District.
Expenditures reported in the schedule are reported on the accrual basis of accounting. When applicable, such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. No federal funds were passed through to subrecipients.
The District has elected not to use the 10% de minimis cost rate as allowed under the Uniform Guidance.
The District does not directly administer any of the Federal Direct Loans that the students utilize at the District. Therefore, only the value of the loans made during the year are represented on the schedule of expenditures of federal awards.