Notes to SEFA
The Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal award programs of the Foundation. All federal awards received directly from federal agencies as well as federal awards passed through other governmental agencies or other entities are included in the Schedule.
The Foundation’s Schedule of Expenditures of Federal Awards has been prepared using the same basis of accounting as the September 30, 2023 financial statements of the Foundation. A complete description of the basis of accounting is included in Note 1 to those financial statements.
In connection with various federal grant programs, the Foundation is obligated to administer related programs and spend the funds in accordance with regulatory restrictions and is subject to audit by grantor agencies and other auditors. In cases of noncompliance, the agencies involved may require the Foundation to refund program funds.