Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes federal grant activities of AAMA under programs of the federal government for the year ended August 31, 2025. The information in the Schedule is presented 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”). Because the Schedule presents only a selected portion of AAMA's operations, they are not intended to and do not present the financial position, changes in net assets, and cash flows of AAMA as a whole.
Amounts reflected in the financial reports filed with grantor agencies for the programs and the Schedule may not agree because of accruals, which would be included in the next report filed with the agencies, matching requirements not included in the Schedule and different program year ends.
Federal grants received by AAMA are subject to review and audit by grantor agencies. AAMA’s management believes that the results of such audits will not have a material effect on the Schedule.
The following is a reconciliation of expenditures of federal awards and revenues on Statement of Activities: See notes to SEFA for table/chart.