Notes to SEFA
Title: LOAN PROGRAMS
Accounting Policies: The accompanying schedule of expenditures of federal awards is prepared on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Midwives College of Utah did not elect to use the de minimis rate of 10% for the year ended December 31, 2023.
Expenditures of the Direct Loan program include the total value of the loans awarded and paid to the College’s students during the year ended December 31, 2023.
Title: ADDITIONAL INFORMATION
Accounting Policies: The accompanying schedule of expenditures of federal awards is prepared on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Midwives College of Utah did not elect to use the de minimis rate of 10% for the year ended December 31, 2023.
As of and during the year ended December 31, 2023, Midwives College of Utah did not receive any noncash federal assistance or federal insurance. In addition, Midwives College of Utah did not pass through any federal grants to sub-recipients.