Notes to SEFA
The Association’s federal programs are subject to financial and compliance audits by grantor agencies which, if instances of material noncompliance are found, may result in disallowed expenditures and affect its continued participation in specific programs. The amount, if any, of expenditures, which may be disallowed by the grantor agencies, cannot be determined at this time. However, the Association expects such amounts, if any, to be immaterial.
The categorization of expenditures by program included in the schedule of expenditures of federal awards is based upon the grant documents. Changes in the categorization of expenditures occur based upon revisions to the Assistance Listing, which is typically issued in June and December of each year. The schedule of expenditures of federal awards for the year ended December 31, 2025 reflects Assistance Listing changes issued through November 2025.
Federal revenue includes $19,097 in an administrative percentage revenue from one of the grants in addition to the $3,711,730 total expenditures of federal awards reported in the schedule of expenditures of federal awards, for total AmeriCorps grant revenue of $3,730,827 as reported in the statement of activities for the year ended December 31, 2025.