Notes to SEFA
Grant monies received and disbursed by the Council are for specific purposes and are subject to review by grantor agencies. Such audits may result in requests for reimbursements due to disallowance of expenditures. Based upon prior experience, the Council does not believe that such disallowances, if any, would have a material effect on the financial position of the Council.
For the year ended September 30, 2025, the Council passed $189,481 through to subrecipients.
Loans receivable reported for federal awards were expended in prior years. Therefore, amounts reported in the statement of activities were not taken into consideration as expenditures for the current year, as they were considered in the year the actual expenditures occurred. For SEFA reporting purposes, expenditures related to federally funded revolving loans are calculated as follows: