Notes to SEFA
Consistent with management’s policy, federal awards are recorded within grants and contributions revenue in the financial statements. The Schedule of Expenditures of Federal Awards is prepared based on federal expenditures incurred during the year and, therefore, does not agree to total grants and contributions revenue reported in the Statement of Activities. Federal contract revenues reported in the Statement of Activities relate to mobility assignment agreements under the Intergovernmental Personnel Act. These agreements represent payments for services rendered under a vendor relationship rather than federal financial assistance as defined in 2 CFR 200.1 and accordingly are not reported in the Schedule.