Title: 1. BASIS OF PRESENTATION
Accounting Policies: BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) summarizes the expenditures of Temple University – Of The Commonwealth System of Higher Education (“Temple”) 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 (“2 CFR”) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). The Schedule does not include the federal funding awarded to Temple University Health System, Inc. and its subsidiaries (“TUHS”). A separate audit in accordance with the U.S. Office of Management and Budget (“OMB”) Compliance Supplement was performed for TUHS for the year ended June 30, 2023.
Because the Schedule presents only a selected portion of the operations of Temple University, it is not intended to, and does not, present the financial position, revenues, expenses, and changes in net assets of Temple. For the purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between Temple and agencies or departments of the federal government and all subawards to Temple by nonfederal organizations pursuant to federal grants, contracts, and similar agreements.
Temple’s consolidated financial statements include the consolidated operations of Temple University Health System, Inc. and its subsidiaries, which received federal awards, which are not included in Temple’s Schedule of Expenditures of Federal Awards for the year ended June 30, 2023. Federally guaranteed loans issued to students of Temple directly by Temple are also included in the Schedule.
Negative amounts shown on the Schedule represent adjustments or credits made in thenormal course of business to amounts reported as expenditures in prior years. Passthrough entity identifying numbers are presented where available.
Assistance Listing Numbers (“ALN”) numbers are from those published by the Office of Management and Budget and the General Services Administration. As provided for in 2 CFR §200.42(b); Programs without an ALN number are presented with only the federal agency’s two-digit prefix followed by the abbreviation “RD” for those programs in the research and development cluster or “U” (i.e. unknown) and sequentially numbered by federal agency in place of a ALN number. The federal agency two-digit prefixes are as follows:(SEE NOTE 1 ON NOTES TO SCHEDULE OF EXPENDITURES - FEDERAL AWARDS for a Table).
The Schedule is presented using the accrual basis of accounting. Expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented where available.
The consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America for not-for-profit organization.
De Minimis Rate Used: N
Rate Explanation: Temple does not elect to use the de minimis indirect cost rate allowed under the Uniform Guidance.
BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) summarizes the expenditures of Temple University – Of The Commonwealth System of Higher Education (“Temple”) 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 (“2 CFR”) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). The Schedule does not include the federal funding awarded to Temple University Health System, Inc. and its subsidiaries (“TUHS”). A separate audit in accordance with the U.S. Office of Management and Budget (“OMB”) Compliance Supplement was performed for TUHS for the year ended June 30, 2023.
Because the Schedule presents only a selected portion of the operations of Temple University, it is not intended to, and does not, present the financial position, revenues, expenses, and changes in net assets of Temple. For the purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between Temple and agencies or departments of the federal government and all subawards to Temple by nonfederal organizations pursuant to federal grants, contracts, and similar agreements.
Temple’s consolidated financial statements include the consolidated operations of Temple University Health System, Inc. and its subsidiaries, which received federal awards, which are not included in Temple’s Schedule of Expenditures of Federal Awards for the year ended June 30, 2023.
Federally guaranteed loans issued to students of Temple directly by Temple are also included in the Schedule.
Negative amounts shown on the Schedule represent adjustments or credits made in thenormal course of business to amounts reported as expenditures in prior years. Passthrough entity identifying numbers are presented where available.
Assistance Listing Numbers (“ALN”) numbers are from those published by the Office of Management and Budget and the General Services Administration. As provided for in 2 CFR §200.42(b); Programs without an ALN number are presented with only the federal agency’s two-digit prefix followed by the abbreviation “RD” for those programs in the research and development cluster or “U” (i.e. unknown) and sequentially numbered by federal agency in place of a ALN number. The federal agency two-digit prefixes are as follows:(SEE NOTE 1 ON NOTES TO SCHEDULE OF EXPENDITURES - FEDERAL AWARDS for a Table).
The Schedule is presented using the accrual basis of accounting. Expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented where available.
The consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America for not-for-profit organization.
Title: 2.INDIRECT COSTS
Accounting Policies: BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) summarizes the expenditures of Temple University – Of The Commonwealth System of Higher Education (“Temple”) 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 (“2 CFR”) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). The Schedule does not include the federal funding awarded to Temple University Health System, Inc. and its subsidiaries (“TUHS”). A separate audit in accordance with the U.S. Office of Management and Budget (“OMB”) Compliance Supplement was performed for TUHS for the year ended June 30, 2023.
Because the Schedule presents only a selected portion of the operations of Temple University, it is not intended to, and does not, present the financial position, revenues, expenses, and changes in net assets of Temple. For the purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between Temple and agencies or departments of the federal government and all subawards to Temple by nonfederal organizations pursuant to federal grants, contracts, and similar agreements.
Temple’s consolidated financial statements include the consolidated operations of Temple University Health System, Inc. and its subsidiaries, which received federal awards, which are not included in Temple’s Schedule of Expenditures of Federal Awards for the year ended June 30, 2023. Federally guaranteed loans issued to students of Temple directly by Temple are also included in the Schedule.
Negative amounts shown on the Schedule represent adjustments or credits made in thenormal course of business to amounts reported as expenditures in prior years. Passthrough entity identifying numbers are presented where available.
Assistance Listing Numbers (“ALN”) numbers are from those published by the Office of Management and Budget and the General Services Administration. As provided for in 2 CFR §200.42(b); Programs without an ALN number are presented with only the federal agency’s two-digit prefix followed by the abbreviation “RD” for those programs in the research and development cluster or “U” (i.e. unknown) and sequentially numbered by federal agency in place of a ALN number. The federal agency two-digit prefixes are as follows:(SEE NOTE 1 ON NOTES TO SCHEDULE OF EXPENDITURES - FEDERAL AWARDS for a Table).
The Schedule is presented using the accrual basis of accounting. Expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented where available.
The consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America for not-for-profit organization.
De Minimis Rate Used: N
Rate Explanation: Temple does not elect to use the de minimis indirect cost rate allowed under the Uniform Guidance.
Temple does not elect to use the de minimis indirect cost rate allowed under the Uniform Guidance.
Title: 3.FEDERAL STUDENT LOAN PROGRAMS
Accounting Policies: BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) summarizes the expenditures of Temple University – Of The Commonwealth System of Higher Education (“Temple”) 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 (“2 CFR”) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). The Schedule does not include the federal funding awarded to Temple University Health System, Inc. and its subsidiaries (“TUHS”). A separate audit in accordance with the U.S. Office of Management and Budget (“OMB”) Compliance Supplement was performed for TUHS for the year ended June 30, 2023.
Because the Schedule presents only a selected portion of the operations of Temple University, it is not intended to, and does not, present the financial position, revenues, expenses, and changes in net assets of Temple. For the purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between Temple and agencies or departments of the federal government and all subawards to Temple by nonfederal organizations pursuant to federal grants, contracts, and similar agreements.
Temple’s consolidated financial statements include the consolidated operations of Temple University Health System, Inc. and its subsidiaries, which received federal awards, which are not included in Temple’s Schedule of Expenditures of Federal Awards for the year ended June 30, 2023. Federally guaranteed loans issued to students of Temple directly by Temple are also included in the Schedule.
Negative amounts shown on the Schedule represent adjustments or credits made in thenormal course of business to amounts reported as expenditures in prior years. Passthrough entity identifying numbers are presented where available.
Assistance Listing Numbers (“ALN”) numbers are from those published by the Office of Management and Budget and the General Services Administration. As provided for in 2 CFR §200.42(b); Programs without an ALN number are presented with only the federal agency’s two-digit prefix followed by the abbreviation “RD” for those programs in the research and development cluster or “U” (i.e. unknown) and sequentially numbered by federal agency in place of a ALN number. The federal agency two-digit prefixes are as follows:(SEE NOTE 1 ON NOTES TO SCHEDULE OF EXPENDITURES - FEDERAL AWARDS for a Table).
The Schedule is presented using the accrual basis of accounting. Expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented where available.
The consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America for not-for-profit organization.
De Minimis Rate Used: N
Rate Explanation: Temple does not elect to use the de minimis indirect cost rate allowed under the Uniform Guidance.
Federally-guaranteed loans (including subsidized and nonsubsidized loans) issued to students of Temple directly by Temple during the year ended June 30, 2023, are summarized below: (SEE NOTE 3 ON NOTES TO SCHEDULE OF EXPENDITURES - FEDERAL AWARDS for a Table).
Temple is responsible only for the performance of certain administrative duties with respect to the federally guaranteed student loan programs; therefore, the net assets and transactions for those programs are not included in the Temple’s consolidated financial statements.
Temple also participated in and administers the following student loan programs: (SEE NOTE 3 ON NOTES TO SCHEDULE OF EXPENDITURES - FEDERAL AWARDS for a Table).
Temple accounts for such loan programs in separate revolving loan funds. As such, the balances and transactions of these loan programs are recorded in Temple’s consolidated financial statements. The amounts on the Schedule for these loan programs also include expenditures for the administrative costs of the respective programs.
Title: 4.SUBRECIPIENTS
Accounting Policies: BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) summarizes the expenditures of Temple University – Of The Commonwealth System of Higher Education (“Temple”) 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 (“2 CFR”) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). The Schedule does not include the federal funding awarded to Temple University Health System, Inc. and its subsidiaries (“TUHS”). A separate audit in accordance with the U.S. Office of Management and Budget (“OMB”) Compliance Supplement was performed for TUHS for the year ended June 30, 2023.
Because the Schedule presents only a selected portion of the operations of Temple University, it is not intended to, and does not, present the financial position, revenues, expenses, and changes in net assets of Temple. For the purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between Temple and agencies or departments of the federal government and all subawards to Temple by nonfederal organizations pursuant to federal grants, contracts, and similar agreements.
Temple’s consolidated financial statements include the consolidated operations of Temple University Health System, Inc. and its subsidiaries, which received federal awards, which are not included in Temple’s Schedule of Expenditures of Federal Awards for the year ended June 30, 2023. Federally guaranteed loans issued to students of Temple directly by Temple are also included in the Schedule.
Negative amounts shown on the Schedule represent adjustments or credits made in thenormal course of business to amounts reported as expenditures in prior years. Passthrough entity identifying numbers are presented where available.
Assistance Listing Numbers (“ALN”) numbers are from those published by the Office of Management and Budget and the General Services Administration. As provided for in 2 CFR §200.42(b); Programs without an ALN number are presented with only the federal agency’s two-digit prefix followed by the abbreviation “RD” for those programs in the research and development cluster or “U” (i.e. unknown) and sequentially numbered by federal agency in place of a ALN number. The federal agency two-digit prefixes are as follows:(SEE NOTE 1 ON NOTES TO SCHEDULE OF EXPENDITURES - FEDERAL AWARDS for a Table).
The Schedule is presented using the accrual basis of accounting. Expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented where available.
The consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America for not-for-profit organization.
De Minimis Rate Used: N
Rate Explanation: Temple does not elect to use the de minimis indirect cost rate allowed under the Uniform Guidance.
Uniform Guidance defines a subrecipient as a nonfederal entity that receives a subaward from a pass-through entity to carry out part of a federal program but does not include an individual who is a beneficiary of such program or payments to a contractor. A contractor is an entity that receives a contract by which a nonfederal entity purchases property or services needed to carry out the project or program under a federal award. A nonfederal entity may concurrently receive federal funds as a recipient, subrecipient, and contractor, depending on the substance of its agreements with federal awarding agencies and pass-through entities. Therefore, Temple must make case-by-case determinations whether each agreement it makes for the disbursement of federal program funds casts the party receiving the funds as a subrecipient or a contractor based on the Uniform Guidance definitions and management’s judgement. The total amount identified as provided to subrecipients during the year ended June 30, 2023 was $11,930,060.