Notes to SEFA
Title: Student financial aid expenditures
Accounting Policies: The schedule of expenditures or federal awards (“Schedule”)
includes the federal grant activity of Dominican University of California (“Dominican”) and is presented on
the accrual basis of accounting. 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 Dominican, it is not intended to and does
not present the financial position, changes in net assets, or cash flows of Dominican.
De Minimis Rate Used: N
Rate Explanation: Dominican is not utilizing the 10% de minimis indirect cost rate offered by Uniform
Guidance as it already has a negotiated indirect rate.
Dominican recognizes expenditures for federal student financial
aid programs as they are incurred. Student financial aid program expenditures include payments to
students, and each program’s administrative allowance, and excludes amounts representing cost sharing
or matching. No administrative allowances were claimed in fiscal year 2023.
Title: Federal student loan programs
Accounting Policies: The schedule of expenditures or federal awards (“Schedule”)
includes the federal grant activity of Dominican University of California (“Dominican”) and is presented on
the accrual basis of accounting. 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 Dominican, it is not intended to and does
not present the financial position, changes in net assets, or cash flows of Dominican.
De Minimis Rate Used: N
Rate Explanation: Dominican is not utilizing the 10% de minimis indirect cost rate offered by Uniform
Guidance as it already has a negotiated indirect rate.
The federal student loan programs listed subsequently are
administered directly by Dominican, and balances and transactions relating to these programs are
included in Dominican’s financial statements.
The balance of loans outstanding (net) at June 30, 2023 is presented below:
Federal Perkins loan program (ALN 84.038) $ 2 84,192
Nursing Student (ALN 93.364) $ 5 ,750
Title: Restatement of previously issued schedule of expenditures of federal awards
Accounting Policies: The schedule of expenditures or federal awards (“Schedule”)
includes the federal grant activity of Dominican University of California (“Dominican”) and is presented on
the accrual basis of accounting. 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 Dominican, it is not intended to and does
not present the financial position, changes in net assets, or cash flows of Dominican.
De Minimis Rate Used: N
Rate Explanation: Dominican is not utilizing the 10% de minimis indirect cost rate offered by Uniform
Guidance as it already has a negotiated indirect rate.
The schedule of
expenditures of federal awards for the year ended June 30, 2023, has been restated to correct the
research and development cluster total from $712,062 to $940,755. The error was caused by the
misclassification of two grants on the schedule of expenditures of federal awards. There was a grant
under assistance listing number 93.250 previously included inside the research and development cluster
that was corrected to be excluded as it was not classified as research and development per the grant
agreement. The second error was related to the Dominican La Vida grant under assistance listing number
84.031M that was corrected to be included inside the research and development cluster as the grant
agreement notated its classification as such.