Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) presents the activity of all federal awards of Central Carolina Technical College (the “College”). The reporting entity is defined in Note 1 of the College's financial statements. The information in the Schedule 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). Because the Schedule presents only a selected portion of the operations of the College, it is not intended to and does not present the financial position, changes in net assets or cash flows of the College.
The Direct Loan program enables an eligible student or parent to obtain a loan to pay for the student’s cost of attendance directly through the College rather than through private lenders. As a college qualified to originate loans, the College is responsible for handling the complete loan origination process, including funds management and promissory note functions. The College is not responsible for collection of these loans. During the program year, the College processed approximately $1.4 million of student loans under the Direct Loan program.
The College did not pass any federal funds to subrecipients during the fiscal year June 30, 2025.