Title: (1) Summary of Significant Accounting Policies
Accounting Policies: The accompanying supplementary schedule of expenditures of federal awards (the Schedule) includes the
federal grant activity of Emory University and its subsidiaries (the University) and is presented on the
accrual basis of accounting. The Schedule presents all grants, contracts, and similar agreements entered
into directly between agencies and departments of the federal government and subawards to the University
from nonfederal organizations pursuant to federal grants, contracts, and similar agreements. The Schedule
also presents awards passed through from the University to other nonfederal subrecipient organizations.
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 (Uniform Guidance). Therefore, some amounts presented in the
Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial
statements.
The accompanying supplementary schedule of cash receipts and expenditures of State of Georgia awards
includes expenditures incurred by the University and grant revenues received from State of Georgia
agencies under various state contracts.
Negative balances represent programs with unfunded expenditures prior to normal closeout procedures,
which were subsequently transferred to unrestricted cost centers.
De Minimis Rate Used: N
Rate Explanation: For the year ended August 31, 2023, the University did not elect to use the 10% de minimis indirect cost
rate permitted by the Uniform Guidance.
The accompanying supplementary schedule of expenditures of federal awards (the Schedule) includes the
federal grant activity of Emory University and its subsidiaries (the University) and is presented on the
accrual basis of accounting. The Schedule presents all grants, contracts, and similar agreements entered
into directly between agencies and departments of the federal government and subawards to the University
from nonfederal organizations pursuant to federal grants, contracts, and similar agreements. The Schedule
also presents awards passed through from the University to other nonfederal subrecipient organizations.
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 (Uniform Guidance). Therefore, some amounts presented in the
Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial
statements.
The accompanying supplementary schedule of cash receipts and expenditures of State of Georgia awards
includes expenditures incurred by the University and grant revenues received from State of Georgia
agencies under various state contracts.
Negative balances represent programs with unfunded expenditures prior to normal closeout procedures,
which were subsequently transferred to unrestricted cost centers.
Title: (2) Basis of Accounting
Accounting Policies: The accompanying supplementary schedule of expenditures of federal awards (the Schedule) includes the
federal grant activity of Emory University and its subsidiaries (the University) and is presented on the
accrual basis of accounting. The Schedule presents all grants, contracts, and similar agreements entered
into directly between agencies and departments of the federal government and subawards to the University
from nonfederal organizations pursuant to federal grants, contracts, and similar agreements. The Schedule
also presents awards passed through from the University to other nonfederal subrecipient organizations.
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 (Uniform Guidance). Therefore, some amounts presented in the
Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial
statements.
The accompanying supplementary schedule of cash receipts and expenditures of State of Georgia awards
includes expenditures incurred by the University and grant revenues received from State of Georgia
agencies under various state contracts.
Negative balances represent programs with unfunded expenditures prior to normal closeout procedures,
which were subsequently transferred to unrestricted cost centers.
De Minimis Rate Used: N
Rate Explanation: For the year ended August 31, 2023, the University did not elect to use the 10% de minimis indirect cost
rate permitted by the Uniform Guidance.
Expenditures for federal student financial assistance programs are recognized as incurred and include
grants to students under the Federal Pell Grant and Federal Supplemental Educational Opportunity Grant
Programs, student earnings under the Federal Work Study Program, and administrative cost allowances,
where applicable. Expenditures for loans related to the Federal Direct Student Loan Programs (FDSLP) are
reported in the Schedule when disbursed.
New loans made during the fiscal year and loans from previous fiscal years for which the University has
continuing compliance requirements to adhere to are reported in the Schedule. Expenditures for other
federal awards are recognized as incurred using the cost accounting principles contained in Uniform
Guidance. Under these cost principles, certain types of expenses are not allowable or are limited as to
reimbursement.
COVID-19 Provider Relief Fund (PRF) and American Rescue Plan (ARP) Rural Distribution (AL # 93.498)
includes reimbursements for lost revenues during the period from July 1, 2020 to June 30, 2023, based
upon the PRF report that is required to be submitted to the HRSA reporting portal.
Title: (3) Federal Loan Programs
Accounting Policies: The accompanying supplementary schedule of expenditures of federal awards (the Schedule) includes the
federal grant activity of Emory University and its subsidiaries (the University) and is presented on the
accrual basis of accounting. The Schedule presents all grants, contracts, and similar agreements entered
into directly between agencies and departments of the federal government and subawards to the University
from nonfederal organizations pursuant to federal grants, contracts, and similar agreements. The Schedule
also presents awards passed through from the University to other nonfederal subrecipient organizations.
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 (Uniform Guidance). Therefore, some amounts presented in the
Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial
statements.
The accompanying supplementary schedule of cash receipts and expenditures of State of Georgia awards
includes expenditures incurred by the University and grant revenues received from State of Georgia
agencies under various state contracts.
Negative balances represent programs with unfunded expenditures prior to normal closeout procedures,
which were subsequently transferred to unrestricted cost centers.
De Minimis Rate Used: N
Rate Explanation: For the year ended August 31, 2023, the University did not elect to use the 10% de minimis indirect cost
rate permitted by the Uniform Guidance.
Most federal financial assistance is in the form of cash awards. However, there are a number of federal
programs that do not involve cash transactions with the University. These noncash transactions in which
the University obtains other assistance are the FDSLP and revolving loan programs, such as the Federal
Perkins Loan Program. The loans advanced and related expenditures are as follows for the various student loan programs:
AL # Amount
Federal Direct Student Loan Programs:
Student loans advanced:
Subsidized Stafford Loan Program 84.268 $ 2,482,459
Unsubsidized Stafford Loan Program 84.268 82,458,717
Total Direct Stafford Loan Program 84,941,176
Federal Direct PLUS Loan Program 84.268 75,946,415
Total Federal Direct Student Loan Programs $ 160,887,591
The Federal Perkins Loan (FPL) program, Nurse Faculty Loan Program (NFLP), Health Professions
Student Loans (HPSL) program, and Nursing Student Loans (NSL) program are administered directly by
the University, and balances and transactions relating to these programs are included in the University’s
consolidated financial statements. The amounts presented on the Schedule include the FPL, NFLP, HPSL,
and NSL outstanding as of August 31, 2022 plus any loans issued in the current year, as applicable. FPL,
NFLP, HPSL, and NSL outstanding at August 31, 2023 totaled $1,974,766, $294,337, $479,254, and
$743,796, respectively. NFLP, HPSL, and NSL issued $121,833, $82,530, and $113,238 in new loans
during the year ended August 31, 2023. No FPL were issued in the current year.
The University is responsible for the performance of certain administrative duties with respect to the
FDSLP. It is not practicable to determine the balance of loans outstanding to students and former students
of the University under this program as of August 31, 2023. These loans are not included in the University’s
consolidated financial statements.
Title: (4) Matching
Accounting Policies: The accompanying supplementary schedule of expenditures of federal awards (the Schedule) includes the
federal grant activity of Emory University and its subsidiaries (the University) and is presented on the
accrual basis of accounting. The Schedule presents all grants, contracts, and similar agreements entered
into directly between agencies and departments of the federal government and subawards to the University
from nonfederal organizations pursuant to federal grants, contracts, and similar agreements. The Schedule
also presents awards passed through from the University to other nonfederal subrecipient organizations.
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 (Uniform Guidance). Therefore, some amounts presented in the
Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial
statements.
The accompanying supplementary schedule of cash receipts and expenditures of State of Georgia awards
includes expenditures incurred by the University and grant revenues received from State of Georgia
agencies under various state contracts.
Negative balances represent programs with unfunded expenditures prior to normal closeout procedures,
which were subsequently transferred to unrestricted cost centers.
De Minimis Rate Used: N
Rate Explanation: For the year ended August 31, 2023, the University did not elect to use the 10% de minimis indirect cost
rate permitted by the Uniform Guidance.
Under the Federal Supplemental Educational Opportunity Grant Program, the University matched $282,496
in funds awarded to students for the year ended August 31, 2023 in addition to the federal share of
expenditures included in the Schedule.
Under the Federal Work Study Program, the University matched $518,266 in total compensation to
students for the year ended August 31, 2023 in addition to the federal share of expenditures included in the
Schedule.
Title: (5) Administrative Cost Allowance
Accounting Policies: The accompanying supplementary schedule of expenditures of federal awards (the Schedule) includes the
federal grant activity of Emory University and its subsidiaries (the University) and is presented on the
accrual basis of accounting. The Schedule presents all grants, contracts, and similar agreements entered
into directly between agencies and departments of the federal government and subawards to the University
from nonfederal organizations pursuant to federal grants, contracts, and similar agreements. The Schedule
also presents awards passed through from the University to other nonfederal subrecipient organizations.
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 (Uniform Guidance). Therefore, some amounts presented in the
Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial
statements.
The accompanying supplementary schedule of cash receipts and expenditures of State of Georgia awards
includes expenditures incurred by the University and grant revenues received from State of Georgia
agencies under various state contracts.
Negative balances represent programs with unfunded expenditures prior to normal closeout procedures,
which were subsequently transferred to unrestricted cost centers.
De Minimis Rate Used: N
Rate Explanation: For the year ended August 31, 2023, the University did not elect to use the 10% de minimis indirect cost
rate permitted by the Uniform Guidance.
The University recorded an administrative cost allowance of $52,774 for the year ended August 31, 2023.
This amount is included in the Schedule as federal expenditures under the Federal Work Study Program.
Title: (6) Indirect Costs
Accounting Policies: The accompanying supplementary schedule of expenditures of federal awards (the Schedule) includes the
federal grant activity of Emory University and its subsidiaries (the University) and is presented on the
accrual basis of accounting. The Schedule presents all grants, contracts, and similar agreements entered
into directly between agencies and departments of the federal government and subawards to the University
from nonfederal organizations pursuant to federal grants, contracts, and similar agreements. The Schedule
also presents awards passed through from the University to other nonfederal subrecipient organizations.
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 (Uniform Guidance). Therefore, some amounts presented in the
Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial
statements.
The accompanying supplementary schedule of cash receipts and expenditures of State of Georgia awards
includes expenditures incurred by the University and grant revenues received from State of Georgia
agencies under various state contracts.
Negative balances represent programs with unfunded expenditures prior to normal closeout procedures,
which were subsequently transferred to unrestricted cost centers.
De Minimis Rate Used: N
Rate Explanation: For the year ended August 31, 2023, the University did not elect to use the 10% de minimis indirect cost
rate permitted by the Uniform Guidance.
For the year ended August 31, 2023, the University did not elect to use the 10% de minimis indirect cost
rate permitted by the Uniform Guidance.