Audit 295517

Title: Adjustments and Transfers Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of Purdue University Global, Inc. (the "University"), a component unit of Purdue University, under programs of the federal government for the year ended June 30, 2023. The information in the 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 (the "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 position, or cash flows of the University. Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The passthrough entity identifying numbers are presented where available. The University has elected to use the 10 percent de minimis indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance. De Minimis Rate Used: Y Rate Explanation: The University has elected to use the 10 percent de minimis indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance. As allowable and in accordance with federal regulations issued by the U.S. Department of Education, the University transferred $165,336 of Federal Work-Study Program (ALN 84.033) funds to the Federal Supplemental Educational Opportunity Grants (ALN 84.007). The University carried forward and spent $60,000 of the 2021-2022 Federal Work-Study Program (ALN 84.033) funds to provide aid to students in 2022-2023. In addition, the University carried forward and spent $240,172 of the 2021-2022 Federal Supplemental Educational Opportunity Grants (SEOG) Program (ALN 84.007) funds in 2022-2023. The University carried forward $60,000 of the 2022-2023 Federal Work-Study Program (ALN 84.033) funds to provide aid to students in 2023-2024. In addition, the University carried forward $245,911 of the 2022-2023 Federal Supplemental Educational Opportunity Grants (SEOG) Program (ALN 84.007) funds to be spent in 2023-2024.