Notes to SEFA
Federal, state and city awards expenditures are reported on the statement of activites and changes in net assets. In certain programs, the expenditures reported in the financial statements may differ from the expenditures reported in the Schedule of Expenditures of Federal, State and City Awards due to program expenditures exceeding grant or contract budget limitations, which are not included as federal, state and city awards. Because the schedule presents only a selected portion of the activites of the Organization, it is not intended to, and does not , present either the financial position, changes in net assets or cash flows of the Organization.