Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of Toberman Neighborhood Center, Inc. (the “Organization”) under the 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 the Title 2 U.S. Code of Federal Regulations (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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Consistent with management’s policy, federal awards are recorded in government grant revenue along with other grant revenue from non-federal sources in the Statement of Activities. As a result, the amount of total federal awards expended on this schedule does not agree to total government grant revenue on the Statement of Activities as presented in the Organization’s audited financial statements as of and for the year ended June 30, 2025.
The Organization had the following loan balance outstanding at June 30, 2025: