Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of the Board of Control for Southern Regional Education (the Board) under programs of the federal government for the year ended June 30, 2025, and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 the Board, it is not intended to, and does not, present the financial position, changes in net assets or cash flows of the Board.
The Board has elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance.