Audit 340732

Title: STUDENT FINANCIAL AID INSTITUTIONAL AND PROGRAM ELIGIBILITY METRICS Accounting Policies: BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Hampshire College under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with the requirements of 2 CFR Part 200, 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 Hampshire College, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Hampshire College. SIGNIFICANT 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. De Minimis Rate Used: N Rate Explanation: Hampshire College has elected not to use the 10% indirect cost rate as allowed under the Uniform Guidance. Hampshire College is in compliance with the following institutional and program eligibility requirements under the Higher Education Act of 1965 and Federal regulations under 34 CF 668.23: -Correspondence courses the College offers under 34 CFR 600.7(b) and (g) -Regular students that enroll in correspondence courses under 34 CFR 600.7(b) and (g) -The College’s regular students that are incarcerated under 34 CFR 600.7(c) and (g) -Completion rates for confined or incarcerated individuals enrolled in non-degree programs at nonprofit institutions under 34 CFR 600.7(c)(3)(ii) and (g) -College’s regular students that lack a high school diploma or its equivalent under 34 CFR 600.7(d) and (g) -Completion rates for short-term programs under 34 CFR 668.8(f) and (g) -Placement rates for short-term programs under 34 CFR 668.8(e)(2)