Notes to SEFA
The amounts reflected in the financial reports submitted to the awarding federal and/or passthrough agencies and the schedule may differ. Some of the factors that may account for any difference include the following: The Center’s year end may differ from the program’s year end. Accruals recognized in the schedule, because of year end procedures, may not be reported in the program financial reports until the next program reporting period. Fixed asset purchases and the resulting depreciation charges are recognized as property and equipment, net in the Center’s financial statements and as expenditures in the program financial reports.
The Center is also the sub-recipient of federal funds that have been subjected to testing and are reported as expenditures and listed as federal pass-through funds. Federal awards other than those indicated as pass-through are considered to be direct.
This schedule was prepared on the accrual basis of accounting. Expenditures are recognized in the period in which they are incurred.
Grant monies received and disbursed by the Center are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon experience, the Center does not believe that such disallowance, if any, would have a material effect on the financial position of the Center. As of April 30, 2026, there were no questioned costs reported in the Schedule of Findings and Questioned Costs for any federal programs.
The Center did not receive any federal noncash assistance for the fiscal year ending April 30, 2026.
The Center did not provide federal funds to subrecipients for the fiscal year ending April 30, 2026.
The Center had one loan guarantee program with the U.S. Department of Agriculture for the year ending April 30, 2026. The outstanding balance as of April 30, 2026 was $470,958.