Notes to SEFA
The grant revenue amounts received are subject to audit and adjustment. If any expenditure is disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement to the grantor agencies would become a liability of the Institute. In the opinion of management, all grant expenditures are in compliance with the terms of the grant agreements and applicable federal and state laws and regulations.
The Institute had the following loan balances outstanding at June 30, 2025: Program Title Federal Assistance Listing Number Amount Outstanding Federal Perkins Loan Program 84.038 $ 82,194 There were no new loans advanced under the Federal Perkins Loan Program during the year ended June 30, 2025.
The Institute is responsible only for the performance of certain administrative duties with respect to its Federal Direct Student Loans program and, accordingly, these loans are not included in the Institute’s consolidated financial statements.
Amounts included in the Schedule are presented net of institutional matching amounts contributed by the Institute.
There were no program funds passed through the Institute to subrecipients during the year ended June 30, 2025.