Notes to SEFA
Expenditures of Federal Awards: Federal grants and contracts revenues - per Schedule A $ 598,090 Federal revenue, nonoperating revenues - per Schedule C 8,404,300 Direct loans 1,100,197 Total Expenditures of Federal Awards $ 10,102,587 Expenditures of State Awards: State grants and contracts revenues - per Schedule A $ 2,390,291 Total Expenditures of State Awards $ 2,390,291
Federal financial assistance received directly from Federal agencies is included in these Schedules. Expenditure reports to funding agencies are prepared on the award period basis. The expenditures reported previously represent funds which have been expended by the College for the purposes of the award during fiscal year 2025. The expenditures reported previously may not have been reimbursed by the funding agencies as of the end of fiscal year 2025. Separate accounts are maintained for the different awards to aid in the observance of limitations and restrictions imposed by the funding agencies. The College has followed all applicable guidelines issued by various entities in the preparation of the Schedules. The College has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Differences between amounts reflected in the financial reports filed with grantor agencies for the programs and in the Schedules are due to different program year ends and accruals that will be reflected in the next report filed with the grantor agencies.