Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Manhattanville College (the “College”) under programs of the federal government for the year ended June 30, 2023 and is prepared on the accrual basis of accounting. 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 the College, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the College.
De Minimis Rate Used: Y
Rate Explanation: The College has elected not to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Manhattanville College (the “College”) under programs of the federal government for the year ended June 30, 2023 and is prepared on the accrual basis of accounting. 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 the College, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the College.
Title: STUDENT LOAN PROGRAMS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Manhattanville College (the “College”) under programs of the federal government for the year ended June 30, 2023 and is prepared on the accrual basis of accounting. 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 the College, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the College.
De Minimis Rate Used: Y
Rate Explanation: The College has elected not to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
The Federal Perkins Loan Program listed below is administered directly by the College, and balances and transactions relating to this program are included in the College’s financial statements. As of June 30, 2023, loan activities and balances consist of the following:
Title: INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Manhattanville College (the “College”) under programs of the federal government for the year ended June 30, 2023 and is prepared on the accrual basis of accounting. 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 the College, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the College.
De Minimis Rate Used: Y
Rate Explanation: The College has elected not to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
The College has elected not to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.