Title: (4) Federal Student Loan Programs
Accounting Policies: (1) Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Oregon Health & Science University (OHSU) under programs of the federal government for the year ended June 30, 2023. The federal award activity of OHSU includes the federal award activity of Tuality Healthcare, which is a component unit of OHSU. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200 (2 CFR 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 OHSU, it is not intended to and does not present the financial position, changes in its financial position, or cash flows of OHSU.
(2) Summary of 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: OHSU has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The federal student loan programs listed below are administered directly by OHSU, and balances and transactions relating to these programs are included in OHSU’s financial statements. The basis used to determine loans expended shown on the Schedule is the amount of new loans made or received during the fiscal year plus the balance of loans from previous years for which the federal government imposes continuing compliance requirements, plus any interest subsidy, cash, or administrative cost allowance received.
Perkins loans ALN 84.038 Loans outstanding at the beginning of the fiscal year 1,563,249, New loans processed during the fiscal year 0, Total loans on the schedule of expenditures of federal awards 1,563,249, Outstanding balance at June 30, 2024 1,061,084;
Nursing faculty loans ALN 93.264 Loans outstanding at the beginning of the fiscal year 1,777,992 New loans processed during the fiscal year 419,274, Total loans on the schedule of expenditures of federal awards 2,197,266 Outstanding balance at June 30, 2024 2,072,080; Health professional loans – Dental ALN 93.342 Loans outstanding at the beginning of the fiscal year 5,343,668, New loans processed during the fiscal year 699,093, Total loans on the schedule of expenditures of federal awards 6,042,761, Outstanding balance at June 30, 2024 5,301,043; Health professional loans – Primary care ALN 93.342 Loans outstanding at the beginning of the fiscal year 59,682, New loans processed during the fiscal year 0 Total loans on the schedule of expenditures of federal awards 59,682, Outstanding balance at June 30, 2024 52,216; Nursing student loans – Undergraduate ALN 93.364 Loans outstanding at the beginning of the fiscal year 2,746,934, New loans processed during the fiscal year 385,043, Total loans on the schedule of expenditures of federal awards 3,131,977, Outstanding balance at June 30, 2024 2,740,237; Nursing student loans – Graduate ALN 93.364 Loans outstanding at the beginning of the fiscal year 234,444, New loans processed during the fiscal year 65,842, Total loans on the schedule of expenditures of federal awards 300,286, Outstanding balance at June 30, 2024 257,985