Notes to SEFA
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award activity of EDSYS, Inc. (EDSYS) 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 of Federal Awards (Uniform Guidance). Because the SEFA presents only a selected portion of the operations of EDSYS, it is not intended to and does not present the financial position, changes in net assets, or cash flows of EDSYS.
During the preparation of the current year’s Schedule of Expenditures of Federal Awards (SEFA), management identified certain federal expenditures that were incurred in the prior fiscal year ended June 30, 2024, but were inadvertently omitted from that year’s SEFA. These expenditures are related to the COVID-19 Education Stabilization Fund under ALN 84.425U. The omitted expenditures totaled approximately $187,000, and were incurred during 2024, but were not included in the SEFA for that reporting period. In accordance with 2 CFR 200.502(a), federal expenditures are to be reported on the SEFA in the fiscal year in which the activity related to the federal award occurs. Accordingly, these expenditures are not included in the current year’s SEFA, as they do not relate to federal award activity in the current fiscal year. Management has evaluated the impact of this omission and determined that the omission did not affect major program determination for the prior year. This disclosure is being provided to ensure transparency and completeness in reporting.