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.
De Minimis Rate Used: N
Rate Explanation: Indirect rate N/A
The consolidated schedule of expenditures of federal awards (the Schedule) includes federal award activity of Boston Graduate School of Psychoanalysis, Inc. and Affiliate (the Organization) under programs of the federal government for the year ended July 31, 2024. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations 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 Boston Graduate School of Psychoanalysis, Inc. and Affiliate, it is not intended to and does not present the financial position, results of operations, changes in net assets, or cash flows of the Organization.
Title: Note 4 Federal Student Loan Programs
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.
De Minimis Rate Used: N
Rate Explanation: Indirect rate N/A
There was no federal capital contribution or match by the Organization during the current year.
Direct Student Loan Program
The Organization disbursed $968,532 of loans under the William D. Ford Federal Direct Loans Program, which include Direct Unsubsidized Loans and/or Direct Grad PLUS Loans. It is not practical to determine the balances of the loans outstanding to students of the Organization under the program at July 31, 2024. The Organization is only responsible for the performance of certain administrative duties and, accordingly, these loans are not included in the Organization’s consolidated financial statements.
Title: Note 5 Subsequent Events
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.
De Minimis Rate Used: N
Rate Explanation: Indirect rate N/A
The Organization has evaluated subsequent events for potential disclosure or recognition through January 24, 2025, the date which the Schedule was available to be issued.