Title: 1
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) summarizes the
expenditures of Harvard University (the “University”) under programs of the federal government for
the year ended June 30, 2024. The information in this Schedule is presented in accordance with the
Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some
amounts presented in this Schedule may differ from amounts presented in, or used in the
preparation of, the financial statements of the University. Negative amounts represent adjustments
or credits to amounts reported as expenditures in prior years in the normal course of business.
Assistance Listing Numbers and pass-through numbers are provided when available.
For purposes of the Schedule, Federal awards include all grants, contracts and similar agreements
entered into directly between the University and agencies and departments of the Federal
government and all subawards to the University by nonfederal or organizations pursuant to Federal
grants, contracts and similar agreements.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, as
applicable, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The University applies its predetermined approved facilities and administrative rate when charging
indirect costs to federal awards rather than the 10% de minimis cost rate as described in Section
200.414 of the Uniform Guidance. The University recovers facilities and administrative costs
associated with sponsored agreements pursuant to separate arrangements negotiated with the
University’s Federal cognizant agency by each of the Medical School, T.H. Chan School of Public
Health, and the University Area. Predetermined federal indirect cost rates have been established for
the University Area and the Medical School (including the School of Dental Medicine) through fiscal
year 2028. The T.H. Chan School of Public Health has predetermined federal indirect cost rates
through fiscal year 2024.
Basis of Presentation and Summary of Significant Accounting Policies
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) summarizes the
expenditures of Harvard University (the “University”) under programs of the federal government for
the year ended June 30, 2024. The information in this Schedule is presented in accordance with the
Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some
amounts presented in this Schedule may differ from amounts presented in, or used in the
preparation of, the financial statements of the University. Negative amounts represent adjustments
or credits to amounts reported as expenditures in prior years in the normal course of business.
Assistance Listing Numbers and pass-through numbers are provided when available.
For purposes of the Schedule, Federal awards include all grants, contracts and similar agreements
entered into directly between the University and agencies and departments of the Federal
government and all subawards to the University by nonfederal or organizations pursuant to Federal
grants, contracts and similar agreements.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, as
applicable, wherein certain types of expenditures are not allowable or are limited to reimbursement.
Title: 2
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) summarizes the
expenditures of Harvard University (the “University”) under programs of the federal government for
the year ended June 30, 2024. The information in this Schedule is presented in accordance with the
Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some
amounts presented in this Schedule may differ from amounts presented in, or used in the
preparation of, the financial statements of the University. Negative amounts represent adjustments
or credits to amounts reported as expenditures in prior years in the normal course of business.
Assistance Listing Numbers and pass-through numbers are provided when available.
For purposes of the Schedule, Federal awards include all grants, contracts and similar agreements
entered into directly between the University and agencies and departments of the Federal
government and all subawards to the University by nonfederal or organizations pursuant to Federal
grants, contracts and similar agreements.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, as
applicable, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The University applies its predetermined approved facilities and administrative rate when charging
indirect costs to federal awards rather than the 10% de minimis cost rate as described in Section
200.414 of the Uniform Guidance. The University recovers facilities and administrative costs
associated with sponsored agreements pursuant to separate arrangements negotiated with the
University’s Federal cognizant agency by each of the Medical School, T.H. Chan School of Public
Health, and the University Area. Predetermined federal indirect cost rates have been established for
the University Area and the Medical School (including the School of Dental Medicine) through fiscal
year 2028. The T.H. Chan School of Public Health has predetermined federal indirect cost rates
through fiscal year 2024.
Facilities and Administrative Costs
The University applies its predetermined approved facilities and administrative rate when charging
indirect costs to federal awards rather than the 10% de minimis cost rate as described in Section
200.414 of the Uniform Guidance. The University recovers facilities and administrative costs
associated with sponsored agreements pursuant to separate arrangements negotiated with the
University’s Federal cognizant agency by each of the Medical School, T.H. Chan School of Public
Health, and the University Area. Predetermined federal indirect cost rates have been established for
the University Area and the Medical School (including the School of Dental Medicine) through fiscal
year 2028. The T.H. Chan School of Public Health has predetermined federal indirect cost rates
through fiscal year 2024.
Title: 3
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) summarizes the
expenditures of Harvard University (the “University”) under programs of the federal government for
the year ended June 30, 2024. The information in this Schedule is presented in accordance with the
Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some
amounts presented in this Schedule may differ from amounts presented in, or used in the
preparation of, the financial statements of the University. Negative amounts represent adjustments
or credits to amounts reported as expenditures in prior years in the normal course of business.
Assistance Listing Numbers and pass-through numbers are provided when available.
For purposes of the Schedule, Federal awards include all grants, contracts and similar agreements
entered into directly between the University and agencies and departments of the Federal
government and all subawards to the University by nonfederal or organizations pursuant to Federal
grants, contracts and similar agreements.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, as
applicable, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The University applies its predetermined approved facilities and administrative rate when charging
indirect costs to federal awards rather than the 10% de minimis cost rate as described in Section
200.414 of the Uniform Guidance. The University recovers facilities and administrative costs
associated with sponsored agreements pursuant to separate arrangements negotiated with the
University’s Federal cognizant agency by each of the Medical School, T.H. Chan School of Public
Health, and the University Area. Predetermined federal indirect cost rates have been established for
the University Area and the Medical School (including the School of Dental Medicine) through fiscal
year 2028. The T.H. Chan School of Public Health has predetermined federal indirect cost rates
through fiscal year 2024.
Federal Student Loan Programs
The Federal student loan programs listed below are administered directly by the University and
balances and transactions relating to these programs are included in the University's consolidated
financial statements. Loans outstanding at the beginning of the year, the administrative cost
allowance and loans made during the year are included in the federal expenditures presented in the
Schedule. The balance of loans outstanding at June 30, 2024 consist of:
Amount
84.038 6,017,905
HPSL/LDS/PCL 93.342 12,946,175
Total Federal Student Loans $ 18,964,080
Loans made by the University to eligible students under the Federal student loan programs and
Federally guaranteed loans issued to students during the year ended June 30, 2024 are
summarized as follows:
Assistance Listing #: Amount
Perkins 84.038 $ -
Net Direct Subsidized Stafford 84.268 1,107,060
Net Direct Unsubsidized Stafford 84.268 54,747,371
Net Direct PLUS 84.268 4,619,469
Net Direct Grad PLUS 84.268 36,008,878
HPSL/LDS/PCL 93.342 1,677,876
Total $ 98,160,654