Notes to SEFA
The amounts shown as current year expenses represent only the federal grant portion of the program costs. Entire program costs, including Winterthur’s portion, may be more than shown.
In accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, the cumulative balance of federal awards for endowment funds which are federally restricted are considered awards expended in each year in which the funds are still restricted. Accordingly, the cumulative balance of challenge grant funds received by Winterthur is included in the Schedule of Expenditures of Federal Awards.