Notes to SEFA
The accompanying schedule of expenditures of federal awards (“SEFA”) includes the federal award activity of the School under programs of the federal government for the year ended June 30, 2025. The SEFA is presented using the modified accrual basis of accounting and in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”).
The SEFA reflects federal expenditures for all individual grants which were active during the fiscal year.
The School has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. For the year ended June 30, 2025, there were no indirect costs included in the SEFA.