Title: Note A: Basis of Presentation
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Title: Notes B: Summary of Significant Accounting Policies
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting.
Title: Notes B: Summary of Significant Accounting Policies
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
Such expenditures are recognized following the cost principles contained in the Uniform
Title: Notes B: Summary of Significant Accounting Policies
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
Guidance, wherein certain types of expenditures are not allowable or are limited as to
Title: Notes B: Summary of Significant Accounting Policies
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
reimbursement.
Title: Notes B: Summary of Significant Accounting Policies
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Title: Notes B: Summary of Significant Accounting Policies
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
Program), the U.S. Department of Education makes loans to enable a student or parent
Title: Notes B: Summary of Significant Accounting Policies
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Title: Notes B: Summary of Significant Accounting Policies
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
Title: Notes B: Summary of Significant Accounting Policies
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
of attendance directly from the U.S. Department of Education rather than through private
Title: Notes B: Summary of Significant Accounting Policies
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
lenders. The University administers the origination and disbursement of the loans to
Title: Notes B: Summary of Significant Accounting Policies
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
eligible students or parents. The University is not responsible for the collection of these
Title: Notes B: Summary of Significant Accounting Policies
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
loans.
Title: Notes B: Summary of Significant Accounting Policies
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
The University has elected not to use the 10 percent de minimis indirect cost rate as
Title: Notes B: Summary of Significant Accounting Policies
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
allowed under the Uniform Guidance.
Title: Notes B: Summary of Significant Accounting Policies
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
During the year ended June 30, 2023, the University did not provide any federal award to
Title: Notes B: Summary of Significant Accounting Policies
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
subrecipients.
Title: Note C: Federal Direct Student Loan Program
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
The University participates in the Federal Direct Loan Program (the Program), CFDA number
Title: Note C: Federal Direct Student Loan Program
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
Title: Note C: Federal Direct Student Loan Program
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Title: Note C: Federal Direct Student Loan Program
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
Undergraduate Students. The Program requires the University to draw down cash; and the
Title: Note C: Federal Direct Student Loan Program
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
University is required to perform certain administrative functions under the Program. Failure to
Title: Note C: Federal Direct Student Loan Program
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
perform such functions may require the University to reimburse the loan guarantee agencies. The
Title: Note C: Federal Direct Student Loan Program
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
University is not responsible for the collection of these loans. The value of loans made during the
Title: Note C: Federal Direct Student Loan Program
Accounting Policies: Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal awards activity of University of Central Oklahoma under programs for the federal
government for the year ended June 30, 2023. 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
University of Central Oklahoma, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the University of Central Oklahoma.
Notes B: Summary of Significant 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.
Under CFDA number 84.268, the Federal Direct Student Loan Program (Direct Loan
Program), the U.S. Department of Education makes loans to enable a student or parent
to pay the costs of the student’s attendance at a postsecondary school. The Direct Loan
Program enables an eligible student or parent to obtain a loan to pay for the student’s cost
of attendance directly from the U.S. Department of Education rather than through private
lenders. The University administers the origination and disbursement of the loans to
eligible students or parents. The University is not responsible for the collection of these
loans.
The University has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
During the year ended June 30, 2023, the University did not provide any federal award to
subrecipients.
Note C: Federal Direct Student Loan Program
The University participates in the Federal Direct Loan Program (the Program), CFDA number
84,268, which includes the Federal Subsidized Direct loan, the Federal Unsubsidized Direct Loan,
the Federal Graduate Student PLUS Direct Loan, and Federal Direct Loans Parents of
Undergraduate Students. The Program requires the University to draw down cash; and the
University is required to perform certain administrative functions under the Program. Failure to
perform such functions may require the University to reimburse the loan guarantee agencies. The
University is not responsible for the collection of these loans. The value of loans made during the
audit period are considered Federal awards expended for the audit period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis rate.
audit period are considered Federal awards expended for the audit period.