Notes to SEFA
The Schedule of Expenditures of Federal Awards is prepared on the accrual basis of accounting and includes the federal grant activity of North American University. The information in this 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) wherein certain types of expenditures are not allowable or are limited as to reimbursement.