Audit 310192

Title: Federal Student Loan Programs Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of Middle Tennessee School of Anesthesia, Inc. (the School) for the year ended December 31, 2023. The information in this schedule is presented in accordance with Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule only presents federally funded portions of the operations of the School, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the School. De Minimis Rate Used: N Rate Explanation: The School has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The Nurse Faculty Loan Program (NFLP) is administered directly by the School, and balances and transactions relating to this program are included in the School’s financial statements. Outstanding balances on federal loan programs as of December 31, 2023 total $847,110. The School processed $11,345,323 of new loans under the federal direct student loans during the year ended December 31, 2023. The School is responsible only for the performance of certain administrative duties with respect to its Federal Direct Student Loan program and, accordingly, these loans are not included in its financial statements. Balances of loans for previous periods are not included in the schedule because the outside lenders service those balances.