Title: 1. Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) presents the federal grant activity of NYU 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 Requirements for Federal Awards (Uniform Guidance) and therefore, some amounts may differ from amounts presented in, or used in the preparation of NYU’s consolidated financial statements. Negative amounts represent adjustments or credits to amounts reported as expenditures in prior years arising out of the normal course of business. Assistance Listing Numbers (ALN) and pass-through numbers are provided when available.
The research expenditures for direct costs are recognized using the cost accounting principles contained in OMB Uniform Guidance. Under those cost principles, certain types of expenditures are not allowed for reimbursement. In addition, expenditures include a portion of costs associated with general NYU activities (facilities and administrative) which are allocated to federal awards under negotiated formulas commonly referred to as facilities and administrative rates (also under the provisions of OMB Uniform Guidance, where applicable).
As described in Note 2, NYU, with the exception of NYU Langone Hospitals, as described in Note 2, does not use the 10% de-minimis indirect cost rate for sponsored programs.
De Minimis Rate Used: N
Rate Explanation: Facilities and Administrative Cost Rates
The University had predetermined facilities and administrative cost rates for the year ended August 31, 2023, under a rate agreement with the Department of Health and Human Services (DHHS), the University’s federal cognizant agency. The base rate for on-campus research was 60.5% for the year ended August 31, 2023. The base rate for off-campus research was 26% for the year ended August 31, 2023.
NYUGSoM and NYU Grossman Long Island School of Medicine had predetermined facilities and administrative cost rates for the fiscal year ended August 31, 2023, under separate rate agreements with the DHHS, their federal cognizant agency. The NYUGSoM base rates for on-campus and off-campus research, respectively, were 69.5% and 26% for the year ended August 31, 2023. The NYU Grossman Long Island School of Medicine base rates for on-campus and off-campus research, respectively, were 54% and 17% for the year ended August 31, 2023.
The accompanying schedule of expenditures of federal awards (the Schedule) presents the federal grant activity of NYU 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 Requirements for Federal Awards (Uniform Guidance) and therefore, some amounts may differ from amounts presented in, or used in the preparation of NYU’s consolidated financial statements. Negative amounts represent adjustments or credits to amounts reported as expenditures in prior years arising out of the normal course of business. Assistance Listing Numbers (ALN) and pass-through numbers are provided when available.
The research expenditures for direct costs are recognized using the cost accounting principles contained in OMB Uniform Guidance. Under those cost principles, certain types of expenditures are not allowed for reimbursement. In addition, expenditures include a portion of costs associated with general NYU activities (facilities and administrative) which are allocated to federal awards under negotiated formulas commonly referred to as facilities and administrative rates (also under the provisions of OMB Uniform Guidance, where applicable).
As described in Note 2, NYU, with the exception of NYU Langone Hospitals, as described in Note 2, does not use the 10% de-minimis indirect cost rate for sponsored programs.
Title: 2. Facilities and Administrative Cost Rates
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) presents the federal grant activity of NYU 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 Requirements for Federal Awards (Uniform Guidance) and therefore, some amounts may differ from amounts presented in, or used in the preparation of NYU’s consolidated financial statements. Negative amounts represent adjustments or credits to amounts reported as expenditures in prior years arising out of the normal course of business. Assistance Listing Numbers (ALN) and pass-through numbers are provided when available.
The research expenditures for direct costs are recognized using the cost accounting principles contained in OMB Uniform Guidance. Under those cost principles, certain types of expenditures are not allowed for reimbursement. In addition, expenditures include a portion of costs associated with general NYU activities (facilities and administrative) which are allocated to federal awards under negotiated formulas commonly referred to as facilities and administrative rates (also under the provisions of OMB Uniform Guidance, where applicable).
As described in Note 2, NYU, with the exception of NYU Langone Hospitals, as described in Note 2, does not use the 10% de-minimis indirect cost rate for sponsored programs.
De Minimis Rate Used: N
Rate Explanation: Facilities and Administrative Cost Rates
The University had predetermined facilities and administrative cost rates for the year ended August 31, 2023, under a rate agreement with the Department of Health and Human Services (DHHS), the University’s federal cognizant agency. The base rate for on-campus research was 60.5% for the year ended August 31, 2023. The base rate for off-campus research was 26% for the year ended August 31, 2023.
NYUGSoM and NYU Grossman Long Island School of Medicine had predetermined facilities and administrative cost rates for the fiscal year ended August 31, 2023, under separate rate agreements with the DHHS, their federal cognizant agency. The NYUGSoM base rates for on-campus and off-campus research, respectively, were 69.5% and 26% for the year ended August 31, 2023. The NYU Grossman Long Island School of Medicine base rates for on-campus and off-campus research, respectively, were 54% and 17% for the year ended August 31, 2023.
The University had predetermined facilities and administrative cost rates for the year ended August 31, 2023, under a rate agreement with the Department of Health and Human Services (DHHS), the University’s federal cognizant agency. The base rate for on-campus research was 60.5% for the year ended August 31, 2023. The base rate for off-campus research was 26% for the year ended August 31, 2023.
NYUGSoM and NYU Grossman Long Island School of Medicine had predetermined facilities and administrative cost rates for the fiscal year ended August 31, 2023, under separate rate agreements with the DHHS, their federal cognizant agency. The NYUGSoM base rates for on-campus and off-campus research, respectively, were 69.5% and 26% for the year ended August 31, 2023. The NYU Grossman Long Island School of Medicine base rates for on-campus and off-campus research, respectively, were 54% and 17% for the year ended August 31, 2023.
Title: 3. Federal Student Loan Programs
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) presents the federal grant activity of NYU 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 Requirements for Federal Awards (Uniform Guidance) and therefore, some amounts may differ from amounts presented in, or used in the preparation of NYU’s consolidated financial statements. Negative amounts represent adjustments or credits to amounts reported as expenditures in prior years arising out of the normal course of business. Assistance Listing Numbers (ALN) and pass-through numbers are provided when available.
The research expenditures for direct costs are recognized using the cost accounting principles contained in OMB Uniform Guidance. Under those cost principles, certain types of expenditures are not allowed for reimbursement. In addition, expenditures include a portion of costs associated with general NYU activities (facilities and administrative) which are allocated to federal awards under negotiated formulas commonly referred to as facilities and administrative rates (also under the provisions of OMB Uniform Guidance, where applicable).
As described in Note 2, NYU, with the exception of NYU Langone Hospitals, as described in Note 2, does not use the 10% de-minimis indirect cost rate for sponsored programs.
De Minimis Rate Used: N
Rate Explanation: Facilities and Administrative Cost Rates
The University had predetermined facilities and administrative cost rates for the year ended August 31, 2023, under a rate agreement with the Department of Health and Human Services (DHHS), the University’s federal cognizant agency. The base rate for on-campus research was 60.5% for the year ended August 31, 2023. The base rate for off-campus research was 26% for the year ended August 31, 2023.
NYUGSoM and NYU Grossman Long Island School of Medicine had predetermined facilities and administrative cost rates for the fiscal year ended August 31, 2023, under separate rate agreements with the DHHS, their federal cognizant agency. The NYUGSoM base rates for on-campus and off-campus research, respectively, were 69.5% and 26% for the year ended August 31, 2023. The NYU Grossman Long Island School of Medicine base rates for on-campus and off-campus research, respectively, were 54% and 17% for the year ended August 31, 2023.
NYU administers and accounts for all aspects of the campus-based student loan programs. Accordingly, NYU’s consolidated financial statements include all activity related to these programs. The amount of loans outstanding under each of these programs at August 31, 2023 are presented below.
See the Notes to the SEFA for chart/table.
With respect to the Federal Direct Loan Program, NYU is only responsible for the performance of certain administrative duties. Therefore, the transactions and the balances of loans outstanding related to this program are not included in NYU’s consolidated financial statements. The Schedule includes the loans issued to NYU students during the year ended August 31, 2023.
The administrative cost allowance for the Pell Grant Program of $29,280 and for the Federal Work Study Program of $714,951 have been included in the Schedule.
NYU did not receive an administrative cost allowance from the Perkins Loan Program (ALN 84.038) for the year ended August 31, 2023.
Title: 4. Department of Health and Human Services Provider Relief Funds
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) presents the federal grant activity of NYU 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 Requirements for Federal Awards (Uniform Guidance) and therefore, some amounts may differ from amounts presented in, or used in the preparation of NYU’s consolidated financial statements. Negative amounts represent adjustments or credits to amounts reported as expenditures in prior years arising out of the normal course of business. Assistance Listing Numbers (ALN) and pass-through numbers are provided when available.
The research expenditures for direct costs are recognized using the cost accounting principles contained in OMB Uniform Guidance. Under those cost principles, certain types of expenditures are not allowed for reimbursement. In addition, expenditures include a portion of costs associated with general NYU activities (facilities and administrative) which are allocated to federal awards under negotiated formulas commonly referred to as facilities and administrative rates (also under the provisions of OMB Uniform Guidance, where applicable).
As described in Note 2, NYU, with the exception of NYU Langone Hospitals, as described in Note 2, does not use the 10% de-minimis indirect cost rate for sponsored programs.
De Minimis Rate Used: N
Rate Explanation: Facilities and Administrative Cost Rates
The University had predetermined facilities and administrative cost rates for the year ended August 31, 2023, under a rate agreement with the Department of Health and Human Services (DHHS), the University’s federal cognizant agency. The base rate for on-campus research was 60.5% for the year ended August 31, 2023. The base rate for off-campus research was 26% for the year ended August 31, 2023.
NYUGSoM and NYU Grossman Long Island School of Medicine had predetermined facilities and administrative cost rates for the fiscal year ended August 31, 2023, under separate rate agreements with the DHHS, their federal cognizant agency. The NYUGSoM base rates for on-campus and off-campus research, respectively, were 69.5% and 26% for the year ended August 31, 2023. The NYU Grossman Long Island School of Medicine base rates for on-campus and off-campus research, respectively, were 54% and 17% for the year ended August 31, 2023.
The Schedule includes grant activity related to Federal ALN 93.498. As required based on guidance in the 2023 OMB Compliance Supplement, the Schedule includes all Period 4 funds received by NYU Langone Health between July 1, 2021 and December 31, 2021 and expended by December 31, 2022 as reported to the Health Resources and Services Administration via the Provider Relief Fund Reporting Portal. NYU Langone Health did not receive Period 5 funding.
Title: 5. Disaster Grants-Public Assistance (Presidentially Declared Disasters)
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) presents the federal grant activity of NYU 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 Requirements for Federal Awards (Uniform Guidance) and therefore, some amounts may differ from amounts presented in, or used in the preparation of NYU’s consolidated financial statements. Negative amounts represent adjustments or credits to amounts reported as expenditures in prior years arising out of the normal course of business. Assistance Listing Numbers (ALN) and pass-through numbers are provided when available.
The research expenditures for direct costs are recognized using the cost accounting principles contained in OMB Uniform Guidance. Under those cost principles, certain types of expenditures are not allowed for reimbursement. In addition, expenditures include a portion of costs associated with general NYU activities (facilities and administrative) which are allocated to federal awards under negotiated formulas commonly referred to as facilities and administrative rates (also under the provisions of OMB Uniform Guidance, where applicable).
As described in Note 2, NYU, with the exception of NYU Langone Hospitals, as described in Note 2, does not use the 10% de-minimis indirect cost rate for sponsored programs.
De Minimis Rate Used: N
Rate Explanation: Facilities and Administrative Cost Rates
The University had predetermined facilities and administrative cost rates for the year ended August 31, 2023, under a rate agreement with the Department of Health and Human Services (DHHS), the University’s federal cognizant agency. The base rate for on-campus research was 60.5% for the year ended August 31, 2023. The base rate for off-campus research was 26% for the year ended August 31, 2023.
NYUGSoM and NYU Grossman Long Island School of Medicine had predetermined facilities and administrative cost rates for the fiscal year ended August 31, 2023, under separate rate agreements with the DHHS, their federal cognizant agency. The NYUGSoM base rates for on-campus and off-campus research, respectively, were 69.5% and 26% for the year ended August 31, 2023. The NYU Grossman Long Island School of Medicine base rates for on-campus and off-campus research, respectively, were 54% and 17% for the year ended August 31, 2023.
As a result of Superstorm Sandy in October 2012, NYU Langone Health sustained widespread damage to the main campus facilities including NYU Langone Hospital’s inpatient and outpatient facilities and the NYUGSoM research, faculty group clinical practice and education facilities, all of which were temporarily closed. Under Federal Emergency Management Agency (FEMA) regulations, NYU Langone Health qualified for funding as a private non-profit facility that supplies critical services to the community. For Superstorm Sandy, FEMA (through the U.S. Department of Homeland Security) reimburses eligible entities at 90% of all eligible costs awarded.
In 2014, FEMA awarded NYU Langone Health a fixed, capped Public Assistance Grant (Capped Grant) totaling $1,088,252,436, which includes a reduction of $3,383,139 due to a commercial insurance claim recovery. The award is to be spent over a 9-year performance period for activities covered in the agreed upon scopes of work. The $1,088,252,436 will be subject to offset for future commercial insurance recoveries related to property damage. All reimbursement under the Capped Grant is passed through from New York State to the University, to NYU Langone Health. Included in the Schedule are $47,651,556 of NYU Langone Health expenditures under the Capped Grant under Federal ALN 97.036.
For the year ended of August 31, 2023, NYU Langone Health recorded $4,533,372 of claims to FEMA under Federal ALN 97.036. The claims submitted represented eligible capital and operating expenses attributed to NYU Langone Heath’s response to COVID-19, which were expended in previous periods but approved by the federal and state agencies in the current year. NYU Langone Health has additional claims outstanding and under review with FEMA related to COVID-19 as of August 31, 2023 which will be recognized in the year the related funds are approved by FEMA at the federal and state agencies.