Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards for the thirteen-month period ended June 30, 2023 includes the federal grant activity of Sarah Lawrence College (the “College”) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards (“Uniform Guidance”). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the College’s basic 2023 financial statements.
De Minimis Rate Used: N
Rate Explanation: The College has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards for the thirteen-month period ended June 30, 2023 includes the federal grant activity of Sarah Lawrence College (the “College”) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards (“Uniform Guidance”). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the College’s basic 2023 financial statements.
Title: NOTE 2 - STUDENT LOAN PROGRAMS
Accounting Policies: The accompanying schedule of expenditures of federal awards for the thirteen-month period ended June 30, 2023 includes the federal grant activity of Sarah Lawrence College (the “College”) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards (“Uniform Guidance”). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the College’s basic 2023 financial statements.
De Minimis Rate Used: N
Rate Explanation: The College has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The College is responsible only for the performance of certain ongoing administrative duties with respect to the Federal Direct Loan Program. Accordingly, the outstanding loan balances under this program are not included in the College’s accompanying financial statements. It is not practicable to determine the balance of loans outstanding to students of the College under this program at June 30, 2023. For the thirteen-month period ended June 30, 2023, $10,563,765 of direct loans were disbursed to students.
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 and for the thirteen-month period ended June 30, 2023, loan activities and balances related to this program were as follows:
“See the Notes to the SEFA for chart/table"
Title: NOTE 3 - INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards for the thirteen-month period ended June 30, 2023 includes the federal grant activity of Sarah Lawrence College (the “College”) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards (“Uniform Guidance”). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the College’s basic 2023 financial statements.
De Minimis Rate Used: N
Rate Explanation: The College has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The College has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.