Notes to SEFA
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Wilson College (College) 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 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 College, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the College.
The federal student loan program listed below is administered directly by the College, and balances and transactions relating to this program are included in the College’s basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at June 30, 2025 consists of: Perkins $485,001.
The amount expended under major programs totaled $10,739,870 which is approximately 93.50% of total expenditures of federal awards for the year ended June 30, 2025. Federal awards expenditures for purposes of this calculation includes loans administered under the Federal Direct Student Loan Program during the year ended June 30, 2025, and Federal Perkins Loans outstanding as of June 30, 2025.