Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of UMARC under programs of the federal government for the year ended June 30, 2025, and 2024. 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 for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of UMARC, it is not intended to and does not present the financial position, changes in net position, or cash flows of UMARC.
Expenditures reported on the Schedule are reported on the identify basis of accounting of accounting. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
UMARC elected to use the 10% de minimis indirect cost rate during fiscal year 2025.
UMARC made $5,103,828 in disbursements to subrecipients during the fiscal year 2025.
UMARC did not receive any federal non-cash assistance during the fiscal year 2025.
UMARC used no federal funds to acquire insurance during the fiscal year 2025.
UMARC did not have any federal loans or loan guarantees outstanding as of June 30, 2025.