Notes to SEFA
The accompany schedule of expenditures of federal awards (the Schedule) presents the revenues from federal awards of Collegiate Academies (the School) (a nonprofit organization) as defined in Note 2 to the School’s basic combined financial statements for the year ended June 30, 2025. All federal financial assistance received directly from federal agencies is included on the Schedule, as well as federal assistance passed through other government agencies.
Federal awards revenues reported in the Organizations’ combined financial statements reconcile to federal award expenditures as follows:
Federal award revenues are reported in the School’s basic combined financial statements as program revenues.
Collegiate Academies did not expend federal awards related to loans or loan guarantees during the year.
Collegiate Academies has no federally funded insurance.
Collegiate Academies did not receive any federal noncash assistance for the fiscal year ended June 30, 2025.