Notes to SEFA
The schedule of expenditures of federal awards is presented using the accrual basis of accounting, whereby revenues are recognized when earned and expenses are recorded as liabilities when incurred. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
The Agency did not receive any federal insurance nor have any federal loans with continuing compliance. Also, for the year ended June 30, 2025, the Agency provided $182,644 to subrecipients.