Notes to SEFA
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of Paramount Schools of Excellence, Inc. (Paramount) for the year ended June 30, 2025, and is presented on the accrual basis of accounting. The information in this SEFA 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). Therefore, some of the amounts presented in this SEFA may differ from amounts presented in or used in the preparation of the basic financial statements. The basic financial statement classifications may include other financial activity for reporting purposes.
Paramount Schools of Excellence, Inc. (Paramount) did not pass through any federal awards to subrecipients during 2025. In addition, there were no federal awards expended in the form of non-cash assistance and there were no loan guarantees outstanding or extended during 2025.