Notes to SEFA
Title: FEDERAL LOAN PROGRAM
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The College has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
For the year ended June 30, 2023, Wisconsin Lutheran College, Inc. acted as a pass-through agency for Direct Federal Stafford Loans (subsidized, unsubsidized and PLUS) to students and parents in the amount of $6,374,602.
Title: OTHER INFORMATION
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The College has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The College did not receive any federal insurance or federal noncash assistance and did not provide any amounts to sub-recipients.