Notes to SEFA
The accompanying schedule of expenditures of federal awards (SEFA) includes a cost reimbursable grant from the federal government which, for the year ended September 30, 2025, is from the U.S. Department of Education. This information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedules may differ from amounts presented in, or used in the preparation of, the financial statements. The principal estimates and assumptions used in the preparation of the accompanying schedule relate to cost allowability and allocability (see Note B). Actual results could differ from those estimates.
The allowability of certain costs under government grants is subject to audit by the awarding agency. Certain indirect costs charged to grants are subject to revisions based on government audits of those costs. Management believes that grant costs are consistent with applicable government cost principles, and that costs subsequently disallowed, if any, upon audit by the government would not be material.