Notes to SEFA
The accompanying schedule of expenditures of federal awards (“the schedule”) includes federal award activity of the Rowan University / Rutgers – Camden Board of Governors (hereafter referred to as the “Board”). The Board is defined in Note 1 to the Board’s basic financial statements. The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). All federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the schedule. Because the schedule presents only a selected portion of the operations of the Board, it is not intended to and does not present the financial position and changes in operations of the Board.
Federal revenues reported in the Board’s basic financial statements agree to the amounts reported on the accompanying Schedule of Expenditures of Federal Awards. Certain expenditures included on the Schedule of Expenditures of Federal Awards relate to eligible costs incurred in a prior fiscal year for which reimbursement funding was received during the fiscal year ended June 30, 2025.
Amounts reported in the accompanying schedule agree with the amounts reported in the related federal financial reports.
The Major program is identified in the Summary of Auditors’ Results section of the Schedule of Findings and Questioned Costs.