The accompanying schedule summarizes the federal expenditures of the College under programs of the federal government for the year ended September 30, 2025. The amount reported as federal expenditures were obtained from the College's general ledger. Because the schedule presents only a selected portion of tthe operations of the College, it is not intended to and does not present the financial position, changes in net margins and cash flows of the College. For purposes of the schedule, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and other pass through entities. Payments received for goods or services provided as a vendor do not constitute federal awards for purposes of the schedule. The College has obtained Assistance Listing Numbers (ALN) to ensure that all programs have been identified in the Schedule. ALN have been appropriately listed by applicable programs. Federal programs with different ALNs that are closely related because they share common compliance requirements are defined as a cluster by the Uniform Guidance. Two clusters were identified in the schedule as follows: Student Financial Aid Cluster - This cluster includes awards that assist agencies in providing financial assistance to eligible students attending eligible institutions of portsecondary education. Workforce Innovation and Opportunity Act (WIOA) Cluster - This cluster includes awards designed to help job seekers access employment, education, training, and support services to succeed in the labor market and to match employers with the skilled workers they need to compete in the global economy.
The amounts reflected in the financial reports submitted to the awarding federal and/or pass-through agency and the schedule may differ. Some of the factors that may account for any difference include the following: 1) The College's fiscal year end may differ from the program's year end. 2) Accruals recognized in the schedule, because of year end procedures, may not be reported in the program financial reports unti lthe next program reporting period. 3) Fixed asset purchases and the resultant depreciation charges are recognized as poroperty and equipment, net in the College's financial statements and as expenditures in the program financial reports.
The College is 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 direct and will be designated accordingly.
Grant monies received and disbursed by the College 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 College does not believe that such disallowance, if any, would have a material effect on the financial position of the College. As of September 30, 2025, there were no known material questioned or disallowed costs as a result of grant audits in process or completed.
The College did not receive any federal noncash assistance for the fiscal year ended September 30, 2025.
The College did not provide federal funds to subrecipients for the fiscal year ended September 30, 2025
The College did not have any loans or loan guarantee programs required to be reported on the schedule.
The College did not have any federally funded insurance required to be reported on the schedule for the fiscal year ending September 30, 2025.