Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Portland Community College (the College) under programs of the federal government for the year ended June 30, 2025. The information is presented in accordance with 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, changes in net position, or cash flows of the College.
Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for subrecipient expenditures, which are recorded on the cash basis. 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. Direct loans are loans held by the Federal Government and are not included in loans receivable for the College. Direct loans disbursed during the year are included in the federal expenditures presented in the Schedule. The College has elected not to use the ten percent de minimus indirect cost rate as allowed under the Uniform Guidance.
The federal student loan programs listed subsequently are administered directly by the College, and balances and transactions relating to these programs are included in the College's basic financial statements. Nursing loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of Nursing loans outstanding at June 30, 2025 consists of: Gross loans receivable at June 30, 2025 including the institutional match, totaled: Federal Nursing Student Loans - Assistance Listing: 93.364 - Loans - $1,045,189
Of the federal expenditures presented in the schedule, Portland Community College provided federal awards to subrecipients as follows: Portland State University - NSF MESA S-STEM 47.076 - $12,803; Purdue University NSF-JATE - 47.076 - $92,892; Chemeketa Community College - DOC EDA Portland Mass Timber - 11.307 - $5,423 = $111,118.