Title: Federal Student Loan Programs
Accounting Policies: For purposes of the Schedule, expenditures for federal award programs are recognized on the accrual basis of accounting unless otherwise directed by the terms and conditions of the underlying awards. Such expenditures are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited to reimbursement. The University was the recipient of funding under Assistance Listing #84.425, Higher Education Emergency Relief Fund (HEERF). Of the amount on the Schedule, $2,520,175 is supported by lost revenue, as allowed under the terms and conditions of the program. As such, this amount represents a reconciling item between the federal expenditures in the Universitys financial statements and the amount included on the Schedule. Expenditures for federal student financial assistance programs include Federal Pell program grants to students, the federal share of students Federal Supplemental Educational Opportunity Grants, and Federal Work-Study Program earnings and administrative cost allowances where applicable.
De Minimis Rate Used: N
Rate Explanation: The University has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The University operates under predetermined fixed F&A cost rates which are effective from October 1, 2020 through September 30, 2024. Per 2 CFR 200.414 (g), a rate extension has been granted. The predetermined fixed rates were based on 2015 financial information. For the fiscal year ended September 30, 2022, the base rate for on-campus research is 48% and 50% for Department of Defense contracts and subcontracts. Base rates for other F&A cost recoveries range from 10.0% to 50.0%.
The Nurse Faculty Loan Program (NFLP) is administered directly by the University, and balances and transactions relating to these programs are included in the Universitys financial statements. NFLP 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 September 30, 2022 is as follows:Student Loan Balance, September 30, 2022 Nursing Faculty Loan: 93.264 ; 557,550The Federal Direct Student Loan Program (FDSLP) was established under the Higher Education Act of 1965, as amended in the Student Loan Reform Act of 1993. The FDSLP enables an eligible student or parent to obtain a Federal direct loan to pay for the students cost of attendance directly through the University rather than through private lenders. As a university qualified to originate loans, the University is responsible for handling the complete loan process, including funds management as well as promissory note functions. The University is not responsible for collection of these loans. The FDSLP loans issued during fiscal year 2022 are included in the federal expenditures presented in the Schedule.
Title: Basis of Presentation
Accounting Policies: For purposes of the Schedule, expenditures for federal award programs are recognized on the accrual basis of accounting unless otherwise directed by the terms and conditions of the underlying awards. Such expenditures are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited to reimbursement. The University was the recipient of funding under Assistance Listing #84.425, Higher Education Emergency Relief Fund (HEERF). Of the amount on the Schedule, $2,520,175 is supported by lost revenue, as allowed under the terms and conditions of the program. As such, this amount represents a reconciling item between the federal expenditures in the Universitys financial statements and the amount included on the Schedule. Expenditures for federal student financial assistance programs include Federal Pell program grants to students, the federal share of students Federal Supplemental Educational Opportunity Grants, and Federal Work-Study Program earnings and administrative cost allowances where applicable.
De Minimis Rate Used: N
Rate Explanation: The University has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The University operates under predetermined fixed F&A cost rates which are effective from October 1, 2020 through September 30, 2024. Per 2 CFR 200.414 (g), a rate extension has been granted. The predetermined fixed rates were based on 2015 financial information. For the fiscal year ended September 30, 2022, the base rate for on-campus research is 48% and 50% for Department of Defense contracts and subcontracts. Base rates for other F&A cost recoveries range from 10.0% to 50.0%.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) summarizes the expenditures of The University of Alabama in Huntsville (the University), a campus of the University of Alabama System, under programs of the federal government for the year ended September 30, 2022. Other campuses of the University of Alabama System are presented in separate reports. The information presented in this Schedule is presented on the accrual basis of accounting, which is 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). Because the Schedule presents only the federal award activity of the University, it is not intended to and does not present the financial position, changes in net position and cash flows of the University. The only component unit of the University is the University of Alabama in Huntsville Foundation. This component unit is not subject to requirements of the Uniform Guidance as it does not receive federal awards.For purposes of this 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 sub-awards to the University by nonfederal organizations pursuant to federal grants, contracts, and similar agreements.Negative numbers in the Schedule represent adjustments to amounts reported in prior years in the normal course of business. Federal Assistance Listing Numbers and pass-through numbers have been provided to the extent they were available.