Title: GENERAL
Accounting Policies: The schedule of expenditures of federal awards (the Schedule) summarizes the expenditures of St. Lawrence University (the University) under programs of the federal government for the year ended June 30, 2023 and has been prepared in accordance with accounting principles generally accepted in the United States of America. 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 University, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the University.
Amounts included in the accompanying Schedule are actual expenditures for the year ended June 30, 2023. Differences between amounts included in the accompanying schedule of expenditures of federal awards and amounts reported to funding agencies for these programs result from report timing.
De Minimis Rate Used: N
Rate Explanation: The University has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The schedule of expenditures of federal awards (the Schedule) summarizes the expenditures of St. Lawrence University (the University) under programs of the federal government for the year ended June 30, 2023 and has been prepared in accordance with accounting principles generally accepted in the United States of America. 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 University, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the University.
Amounts included in the accompanying Schedule are actual expenditures for the year ended June 30, 2023. Differences between amounts included in the accompanying schedule of expenditures of federal awards and amounts reported to funding agencies for these programs result from report timing.
Title: BASIS OF ACCOUNTING
Accounting Policies: The schedule of expenditures of federal awards (the Schedule) summarizes the expenditures of St. Lawrence University (the University) under programs of the federal government for the year ended June 30, 2023 and has been prepared in accordance with accounting principles generally accepted in the United States of America. 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 University, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the University.
Amounts included in the accompanying Schedule are actual expenditures for the year ended June 30, 2023. Differences between amounts included in the accompanying schedule of expenditures of federal awards and amounts reported to funding agencies for these programs result from report timing.
De Minimis Rate Used: N
Rate Explanation: The University has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: FEDERAL STUDENT LOAN PROGRAMS
Accounting Policies: The schedule of expenditures of federal awards (the Schedule) summarizes the expenditures of St. Lawrence University (the University) under programs of the federal government for the year ended June 30, 2023 and has been prepared in accordance with accounting principles generally accepted in the United States of America. 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 University, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the University.
Amounts included in the accompanying Schedule are actual expenditures for the year ended June 30, 2023. Differences between amounts included in the accompanying schedule of expenditures of federal awards and amounts reported to funding agencies for these programs result from report timing.
De Minimis Rate Used: N
Rate Explanation: The University has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Perkins Loan program is administered directly by the University and balances and transactions relating to this program are included in the University’s consolidated financial statements. The net balance of loans outstanding under the Perkins Loan program was $597,715 at June 30, 2023. The Perkins Loan Program was terminated effective June 30, 2018 and no additional loans will be distributed.
Title: Indirect costs
Accounting Policies: The schedule of expenditures of federal awards (the Schedule) summarizes the expenditures of St. Lawrence University (the University) under programs of the federal government for the year ended June 30, 2023 and has been prepared in accordance with accounting principles generally accepted in the United States of America. 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 University, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the University.
Amounts included in the accompanying Schedule are actual expenditures for the year ended June 30, 2023. Differences between amounts included in the accompanying schedule of expenditures of federal awards and amounts reported to funding agencies for these programs result from report timing.
De Minimis Rate Used: N
Rate Explanation: The University has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The University has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.