Notes to SEFA
The grant revenue amounts received are subject to audit and adjustment. If any expenditures are disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement to the grantor agencies would become a liability of BGCA. In the opinion of management, all grant expenditures are in compliance with the terms of the grant agreements and applicable federal laws and regulations.
Nonappropriated Fund Instrumentalities (NAFIs) are created and regulated by federal agencies for that benefit of governmental entities but are not federal agencies of governmental corporations in and of themselves. During the year ended December 31, 2025, BGCA expended $3,160 in NAFIs, which are not included in the Schedule.