Notes to SEFA
The United States Department of Agriculture has issued a compliance supplement regarding the program for Community Facilities Loans and Grants Program (ALN 10.780). The School did not have any loan proceeds expended during the year; however, the outstanding balance at June 30, 2025 was $15,492,133.
During the year ended June 30, 2025 the School had no sub-recipients.
The School did not receive any noncash assistance or federal funded insurance during the year ended June 30, 2025.
Grant monies received and disbursed by the School are for specific purposes and subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon experience, the School does not believe that such disallowance, if any, would have a material effect on the financial position of the School.
The School is also the sub-recipient of federal funds that have been subjected to testing and are reported as expenditures and listed as federal pass-through funds. Federal awards other than those indicated as pass-through funds are considered to be direct.