Notes to SEFA
The accompanying Schedule includes the federal award activity of NUL under programs of the federal government for the year ended December 31, 2025 and is presented on the accrual basis of accounting. The information in the Schedule is presented in accordance with the requirements of the cost principles contained in the Uniform Guidance.
The following schedule is a reconciliation of the total expenditures as shown on the Schedule and the federal funds reported on the statement of activities for the year ended December 31, 2025, which is included as part of NUL’s consolidated financial statements.