Notes to SEFA
Title: Note 1 – Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass‐through entity identifying numbers are presented where available and when applicable. WGU elected not to use the 10% de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: WGU elected not to use the 10% de minimis indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Western Governors University (WGU) under programs of the federal government for the year ended June 30, 2024. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of WGU, it is not intended to, and does not, present the consolidated financial position, changes in net assets, or cash flows of WGU. WGU includes loans granted under the Direct Student Loans Program as expenditures of federal awards.
Title: Note 2 – Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass‐through entity identifying numbers are presented where available and when applicable. WGU elected not to use the 10% de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: WGU elected not to use the 10% de minimis indirect cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass‐through entity identifying numbers are presented where available and when applicable. WGU elected not to use the 10% de minimis indirect cost rate.
Title: Note 3 – Federal Loans Disbursed
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass‐through entity identifying numbers are presented where available and when applicable. WGU elected not to use the 10% de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: WGU elected not to use the 10% de minimis indirect cost rate.
WGU participated in the Federal Direct Student Loan Program. The dollar amounts are listed in the Schedule although WGU is not the recipient of the funds. Such programs are considered a component of the student financial assistance program cluster. Expenditures represent new loans processed for students during the year ended June 30, 2024.