Audit 290788

Title: Basis of Presentation Accounting Policies: 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. University of Idaho has elected not to use the 10% deminimuis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The University of Idaho has elected NOT to use the 10-percent de minimus indirect rate allowed under the Uniform Guidance. We use our federally negotiated rate whenever possible. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the University of Idaho under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 of Idaho, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the University of Idaho. The University did not receive any federal noncash assistance, insurance, loan, or loan guarantees.

Title: Federal Student Loan Program Accounting Policies: 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. University of Idaho has elected not to use the 10% deminimuis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The University of Idaho has elected NOT to use the 10-percent de minimus indirect rate allowed under the Uniform Guidance. We use our federally negotiated rate whenever possible. The federal student loan programs listed subsequently are administered directly by the University of Idaho, and balances and transactions relating to these programs are included in the University of Idaho's basic financial statements. Loans outstanding at the beginning of the year 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 consists of: See the Notes to the SEFA for chart/table.