Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of Metropolitan Golf Foundation (the "Foundation") under programs of the federal government for the year ended December 31, 2025. The information in this 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"). Because the Schedule presents only a selected portion of operations of the Foundation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Foundation.
The Foundation had no federal insurance programs in effect and no loan or loan guarantee programs outstanding during the year ended December 31, 2025.
Federal awards included in the accompanying Schedule are reported as loan proceeds in the Foundation's statement of financial position.