Title: GENERAL INFORMATION
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Cairn University (the “University”) and is presented on the accrual basis of accounting. The information in these schedules 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,” Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the general-purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The University did not elect to use the 10% de minimis indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of Cairn University (the “University”). All awards received directly from federal agencies as well as financial assistance passed through other governmental agencies or non-profit organizations are included on the schedule.
Title: SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Cairn University (the “University”) and is presented on the accrual basis of accounting. The information in these schedules 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,” Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the general-purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The University did not elect to use the 10% de minimis indirect cost rate.
The University did not pass any awards through to subrecipients.
Title: MATCHING CONTRIBUTIONS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Cairn University (the “University”) and is presented on the accrual basis of accounting. The information in these schedules 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,” Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the general-purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The University did not elect to use the 10% de minimis indirect cost rate.
The amounts reported in the accompanying Schedule of Expenditures of Federal Awards do not include matching contributions made by the University. The University made matching contributions to the following federal awards:
Federal Work-Study Program $59,720
The University received a waiver of the matching requirement from the Department of Education for the Federal Supplemental Educational Opportunity Grant program during the year ended June 30, 2023.
Title: HIGHER EDUCATION EMERGENCY RELIEF FUND
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Cairn University (the “University”) and is presented on the accrual basis of accounting. The information in these schedules 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,” Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the general-purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The University did not elect to use the 10% de minimis indirect cost rate.
The University received funds for student and institutional purposes under the Higher Education Emergency Relief Fund (“HEERF”). These funds are administered by the University. Amounts expended for the year ended June 30, 2023, for both the student and institutional portions are included in the federal expenditures presented in the Schedule.
HEERF activity for the year ended June 30, 2023 is as follows:
Assistance Amount Amount Amount
Listing Amount Expended – Expended – Available For
Program Name Number Awarded 2022 And Prior 2023 Expenditure
HEERF I Student Portion 84.425E $ 385,761 $ 385,761 $ - $ -
HEERF I Institutional Portion 84.425F 385,761 385,761 - -
HEERF II Student Portion 84.425E 385,761 385,761 - -
HEERF II Institutional Portion 84.425F 957,779 957,779 - -
HEERF II Strengthening Institutions 84.425M 202,576 99,086 103,490 -
HEERF III Student Portion 84.425E 1,192,762 1,192,762 - -
HEERF III Institutional Portion 84.425F 1,188,319 411,232 776,041 1,046
$ 4,698,719 $ 3,818,142 $ 879,531 $ 1,046