Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal award programs of St. John Fisher University and Subsidiaries (collectively, the Organizations). Because the Schedule presents only a selected portion of the operations of the Organizations, it is not intended, and does not, present the consolidated financial position or changes in net assets and activities of the Organizations. For the purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between the Organizations and agencies and departments of the federal government as well as federal awards passed through other agencies. Student financial aid includes certain awards to provide financial assistance to students, primarily under the Federal Work-Study, Pell Grant and Supplemental Educational Opportunity Grant programs of the Department of Education. The Organizations also receive awards to make loans to eligible students under certain federal student loan programs and federally guaranteed loans are issued to students of the Organizations by the Federal government. These loans are considered for the purposes of determining whether student financial aid is a major or non-major program.