Notes to SEFA
Title: Loan/loan guarantee outstanding balance
Accounting Policies: The accompanying schedule of federal and state awards, as required by Title 2 U.S. Code of Federal Regulations part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards and State Single Audit Guidelines as listed in the table of contents, are presented for purposes of additional analysis and are not a required part of the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion the supplementary information are fairly stated in all material respects, in relation to the basic financial statements as a whole.
De Minimis Rate Used: N
Rate Explanation: The audittee has not elected to use a 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Nurse Faculty Loan Program (NFLP) (93.264)-Balances outstanding at the end of the audit period were $333,736