Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: Note 2. Summary of Significant Accounting Policies
Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures
are recognized following, as applicable, either the cost principles in OMB Circular A-21, Cost Principles
for Educational Institutions, or the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowed or are limited as to reimbursement. The University has elected not
to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures
are recognized following, as applicable, either the cost principles in OMB Circular A-21, Cost Principles
for Educational Institutions, or the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowed or are limited as to reimbursement. The University has elected not
to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity
of Ball State University (University) under programs of the federal government for the year ended June
30, 2024. The information in the SEFA is presented in accordance with the requirements of Uniform
Guidance. Because the SEFA presents only a select portion of the operations of the University, it is not
intended to and does not present the financial position of the University.
Title: Note 3. Other Programs Student Loans
Accounting Policies: Note 2. Summary of Significant Accounting Policies
Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures
are recognized following, as applicable, either the cost principles in OMB Circular A-21, Cost Principles
for Educational Institutions, or the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowed or are limited as to reimbursement. The University has elected not
to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures
are recognized following, as applicable, either the cost principles in OMB Circular A-21, Cost Principles
for Educational Institutions, or the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowed or are limited as to reimbursement. The University has elected not
to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.
The University participates in the Federal Perkins Loan Program. Amounts loaned to students are
recorded as notes receivable. Gross student notes receivable outstanding at June 30, 2024: