Notes to SEFA
The accompanying Schedule of Federal Awards Expenditures (the Schedule) includes the federal award activity of Pickaway-Ross Career and Technology Center (the Center) 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 Title 2 U.S. Code of Federal Regulations 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 Center, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Center.
Expenditures reported on the Schedule are reported on the cash 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 Center has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Center reports commodities consumed on the Schedule at the fair market value. The Center allocated donated food commodities to the respective program that benefitted from the use of those donated food commodities.
The Center commingles cash receipts from the U.S. Department of Agriculture with similar State grants. When reporting expenditures on this Schedule, the Center assumes it expends federal monies first.
The Center participates in the Federal Direct Student Loan Program. The dollar amounts listed in the schedule of federal awards expenditures represents new loans advanced during the fiscal year ended June 30, 2025. The Center is a direct lender for these loan funds; however, they are not responsible for collecting these loans in future periods.