Notes to SEFA
The accompanying schedule of expenditures of federal and state awards (the “Schedule”) includes the federal and state grant activity of Catawba College (the “College”) and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the College, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the College.
During the fiscal year ended May 31, 2026, the College processed $5,548,734 of new loans under the Federal Direct Student Loans program (Assistance Listing No. 84.268). The College is responsible only for the performance of certain administrative duties with respect to the Federal Direct Student Loans program and, accordingly, these loans are not included on the College’s consolidated financial statements; furthermore, it is not practical to determine the balance of loans outstanding to students and former students of the College under these programs at May 31, 2026.