Notes to SEFA
The Organization did not have any federal loans or loan guarantees outstanding during the year ended June 30, 2025.
During the year ended June 30, 2025, the Organization had no subrecipients.
The Organization did not receive any noncash assistance during the year ended June 30, 2025.
Grant monies received and disbursed by the Organization are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon experience, the Organization does not believe that such disallowance, if any, would have a material effect on the financial position of the Organization.
The Organization is also the sub-recipient of federal funds that have been subjected to testing and are reported as expenditures and listed as federal pass-through funds. Federal awards other than those indicated as pass-through are considered to be direct.
The amounts reflected in the financial reports submitted to the awarding federal, state and/or pass-through agencies and the Schedule may differ. Some of the factors that may account for any differences include the following: The Organization’s fiscal year end may differ from the program’s year end. Accruals recognized in the Schedule, because of year end procedures, may not be reported in the program financial reports until the next program reporting period. Fixed asset purchases and the resultant depreciation charges are recognized as fixed assets in the Organization’s financial statements and as expenditures in the program financial reports and the Schedule.