Notes to SEFA
"The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Madison Area Techncial College District under programs of the federal government for the year ended June 30, 2025. The information in this Schedule is presented in accordance with the requirements of 2 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 District, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the District.
A schedule reconciling total federal awards to amounts reported in the basic financial statements follows: Federal revenues from Schedule of Expenditures of Federal Awards: $42,483,591 Federal grants revenue recognized in the statement of revenues, expenses and changes in net assets: $28,290,074 Loans presented on the Schedule of Expenditures of Federal Awards: $14,197,577 Other: $(4,060) $42,483,591
The following programs are included on the Schedule of Expenditures of Federal Awards but are not subject to the Single Audit Act. AL Number / Funding Agency / Name of Program / Amount 64.028 / Department of Veteran Affairs / Veterans Educational Assistance / $594,019
The Institution is in compliance with the following institutional and program eligibility requirements under the Higher Education Act of 1965 and Federal regulations under 34 CFR 668.23: · Correspondence courses the institution offers under 34 CFR 600.7(b) and (g) · Regular students that enroll in correspondence courses under 34 CFR 600.7(b) and (g) · Institution’s regular students that are incarcerated under 34 CFR 600.7(c) and (g) · Completion rates for confined or incarcerated individuals enrolled in non-degree programs at nonprofit institutions under 34 CFR 600.7(c)(3)(ii) and (g) · Institution’s regular students that lack a high school diploma or its equivalent under 34 CFR 600.7(d) and (g) · Completion rates for short-term programs under 34 CFR 668.8(f) and (g) · Placement rates for short-term programs under 34 CFR 668.8(e)(2