Title: 1
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) summarizes the
expenditures of Harvard University (the “University”) under programs of the federal government for
the year ended June 30, 2023. The information in this Schedule is presented in accordance with
the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some
amounts presented in this Schedule may differ from amounts presented in, or used in the
preparation of, the financial statements of the University. Negative amounts represent adjustments
or credits to amounts reported as expenditures in prior years in the normal course of business.
Assistance Listing Numbers and pass-through numbers are provided when available.
For purposes of the Schedule, Federal awards include all grants, contracts and similar agreements
entered into directly between the University and agencies and departments of the Federal
government and all subawards to the University by nonfederal or organizations pursuant to Federal
grants, contracts and similar agreements.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, as
applicable, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The University applies its predetermined approved facilities and administrative rate when charging
indirect costs to federal awards rather than the 10% de minimis cost rate as described in Section
200.414 of the Uniform Guidance. The University recovers facilities and administrative costs
associated with sponsored agreements pursuant to separate arrangements negotiated with the
University’s Federal cognizant agency by each of the Medical School, T.H. Chan School of Public
Health, and the University Area. Predetermined federal indirect cost rates have been established
for the University Area, the Medical School (including the School of Dental Medicine), and the T.H.
Chan School of Public Health through fiscal year 2024.
Basis of Presentation and Summary of Significant Accounting Policies
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) summarizes the
expenditures of Harvard University (the “University”) under programs of the federal government for
the year ended June 30, 2023. The information in this Schedule is presented in accordance with
the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some
amounts presented in this Schedule may differ from amounts presented in, or used in the
preparation of, the financial statements of the University. Negative amounts represent adjustments
or credits to amounts reported as expenditures in prior years in the normal course of business.
Assistance Listing Numbers and pass-through numbers are provided when available.
For purposes of the Schedule, Federal awards include all grants, contracts and similar agreements
entered into directly between the University and agencies and departments of the Federal
government and all subawards to the University by nonfederal or organizations pursuant to Federal
grants, contracts and similar agreements.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, as
applicable, wherein certain types of expenditures are not allowable or are limited to reimbursement.
Title: 2
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) summarizes the
expenditures of Harvard University (the “University”) under programs of the federal government for
the year ended June 30, 2023. The information in this Schedule is presented in accordance with
the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some
amounts presented in this Schedule may differ from amounts presented in, or used in the
preparation of, the financial statements of the University. Negative amounts represent adjustments
or credits to amounts reported as expenditures in prior years in the normal course of business.
Assistance Listing Numbers and pass-through numbers are provided when available.
For purposes of the Schedule, Federal awards include all grants, contracts and similar agreements
entered into directly between the University and agencies and departments of the Federal
government and all subawards to the University by nonfederal or organizations pursuant to Federal
grants, contracts and similar agreements.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, as
applicable, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The University applies its predetermined approved facilities and administrative rate when charging
indirect costs to federal awards rather than the 10% de minimis cost rate as described in Section
200.414 of the Uniform Guidance. The University recovers facilities and administrative costs
associated with sponsored agreements pursuant to separate arrangements negotiated with the
University’s Federal cognizant agency by each of the Medical School, T.H. Chan School of Public
Health, and the University Area. Predetermined federal indirect cost rates have been established
for the University Area, the Medical School (including the School of Dental Medicine), and the T.H.
Chan School of Public Health through fiscal year 2024.
Facilities and Administrative Costs
The University applies its predetermined approved facilities and administrative rate when charging
indirect costs to federal awards rather than the 10% de minimis cost rate as described in Section
200.414 of the Uniform Guidance. The University recovers facilities and administrative costs
associated with sponsored agreements pursuant to separate arrangements negotiated with the
University’s Federal cognizant agency by each of the Medical School, T.H. Chan School of Public
Health, and the University Area. Predetermined federal indirect cost rates have been established
for the University Area, the Medical School (including the School of Dental Medicine), and the T.H.
Chan School of Public Health through fiscal year 2024.
Title: 3
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) summarizes the
expenditures of Harvard University (the “University”) under programs of the federal government for
the year ended June 30, 2023. The information in this Schedule is presented in accordance with
the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some
amounts presented in this Schedule may differ from amounts presented in, or used in the
preparation of, the financial statements of the University. Negative amounts represent adjustments
or credits to amounts reported as expenditures in prior years in the normal course of business.
Assistance Listing Numbers and pass-through numbers are provided when available.
For purposes of the Schedule, Federal awards include all grants, contracts and similar agreements
entered into directly between the University and agencies and departments of the Federal
government and all subawards to the University by nonfederal or organizations pursuant to Federal
grants, contracts and similar agreements.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, as
applicable, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The University applies its predetermined approved facilities and administrative rate when charging
indirect costs to federal awards rather than the 10% de minimis cost rate as described in Section
200.414 of the Uniform Guidance. The University recovers facilities and administrative costs
associated with sponsored agreements pursuant to separate arrangements negotiated with the
University’s Federal cognizant agency by each of the Medical School, T.H. Chan School of Public
Health, and the University Area. Predetermined federal indirect cost rates have been established
for the University Area, the Medical School (including the School of Dental Medicine), and the T.H.
Chan School of Public Health through fiscal year 2024.
The Federal student loan programs listed below are administered directly by the University and
balances and transactions relating to these programs are included in the University's consolidated
financial statements. Loans outstanding at the beginning of the year, the administrative cost
allowance and loans made during the year are included in the federal expenditures presented in
the Schedule. The balance of loans outstanding at June 30, 2023 consist of:
Assistance Listing #: Amount
Perkins 84.038 $ 9,420,024
HPSL/LDS/PCL 93.342 12,785,044
Total Federal Student Loans $ 22,205,068
Loans made by the University to eligible students under the Federal student loan programs and
Federally guaranteed loans issued to students during the year ended June 30, 2023 are
summarized as follows:
Assistance Listing #: Amount
Perkins 84.038 $ -
Net Direct Subsidized Stafford 84.268 1,297,545
Net Direct Unsubsidized Stafford 84.268 60,190,062
Net Direct PLUS 84.268 4,483,527
Net Direct Grad PLUS 84.268 36,882,174
HPSL/LDS/PCL 93.342 1,159,096
Total $ 104,012,404