Notes to SEFA
The accompanying Schedule includes the federal award activity of the College 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 Uniform Guidance.
During the year ended June 30, 2025, the College processed the following amount of new loans under the Federal Direct Lending Loan Program. Since this program is administered by outside financial institutions, only the value of new loans made during the fiscal year relating to this program are considered current year expenditures in the Schedule. The outstanding balance of loans made in previous periods is not included as federal awards expended because the lender accounts for the prior balances.
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