Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the New Mexico Early Childhood Education and Care Department (the Department) under programs of the federal government for the year ended June 30, 2025. The information in this Schedule is presented in accordance with the requirements of 2 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 Department, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Department.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Department has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Department did not receive any noncash assistance, loan guarantees, or insurance from federal services during the current fiscal year.
Federal Expenditures per Schedule of Expenditures of Federal Awards $ 192,920,080 Residual Timing Reconciliations 427,417 Total $ 193,347,497 Federal Revenue per the Statement of Revenues, Expenditures, and Changes in Fund Balances $ 193,347,49