Notes to SEFA
The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America.
Medical assistance received under Assistance Listing No. 93.778 has been included in the Schedule but is not subject to Single Audit testing as funding is received under a vendor-type relationship, thus is excluded from major program determination.
Total expenditures per the Schedule of Expenditures of Federal Awards reconcile to the Board's basic financial statements as follows: Revenues per the Statement of Revenues, Expenditures and Changes in Fund in Balances Federal - General Fund $ 17,283,141 Federal - Food Services 2,624,048 Total per Financial Statements 19,907,189 Less: U.S. Navy ROTC Revenue (104,793) Total expenditures per Schedule of Expenditures of Federal Awards $ 19,802,396