Title: A. BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented in
accordance with the requirements by Title 2 U.S. Code of Federal Regulations (CFR)
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance), on the accrual basis of
accounting consistent with the basis of accounting used by the University in the
preparation of its financial statements.
De Minimis Rate Used: N
Rate Explanation: The University 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 is presented in
accordance with the requirements by Title 2 U.S. Code of Federal Regulations (CFR)
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance), on the accrual basis of
accounting consistent with the basis of accounting used by the University in the
preparation of its financial statements.
The University has elected not to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.
Title: B. FEDERAL PERKINS LOAN PROGRAM - ASSISTANCE LISTING NUMBER
#84.038
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented in
accordance with the requirements by Title 2 U.S. Code of Federal Regulations (CFR)
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance), on the accrual basis of
accounting consistent with the basis of accounting used by the University in the
preparation of its financial statements.
De Minimis Rate Used: N
Rate Explanation: The University has elected not to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.
The outstanding loan balance for the Federal Perkins Loan Program at July 31, 2023 was
$-0-, net of the allowance for uncollectible loans of $6,020. Total loan disbursements for
the program for the year ended July 31, 2023, were $-0-.
Title: C. FEDERAL DIRECT LOANS PROGRAM - ASSISTANCE LISTING NUMBER
#84.268
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented in
accordance with the requirements by Title 2 U.S. Code of Federal Regulations (CFR)
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance), on the accrual basis of
accounting consistent with the basis of accounting used by the University in the
preparation of its financial statements.
De Minimis Rate Used: N
Rate Explanation: The University has elected not to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.
During the fiscal year ending July 31, 2023, the University processed $19,203,111 of
new loans under the Federal Direct Loans program (which includes subsidized and
unsubsidized Stafford Loans, Parents for Undergraduate Students, and Supplemental
Loans for Students).
Title: D. MATCHING FUNDS
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented in
accordance with the requirements by Title 2 U.S. Code of Federal Regulations (CFR)
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance), on the accrual basis of
accounting consistent with the basis of accounting used by the University in the
preparation of its financial statements.
De Minimis Rate Used: N
Rate Explanation: The University has elected not to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.
The University received a waiver from the U.S. Department of Education and elected not
to provide matching funds for the Federal Supplemental Educational Opportunity Grants
program during the fiscal year ended July 31, 2023.