Notes to SEFA
The System did not expend federal awards related to loans or loan guarantees during the year.
The System has no federally funded insurance.
The System did not receive any federal noncash assistance for the year ended December 31, 2025.
The following is a reconciliation of the Schedule of Expenditures of Federal Awards (SEFA) to the basic financial statements: Federal operating subsidy $ 8,177,952 Planning and technical study grants 507,162 Capital contributions 10,349,432 Less: insignificant rounding adjustments (9) Total expenditures of federal awards $ 19,034,537