Title: Matching Costs
Accounting Policies: a. Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (Schedule) has been prepared in
accordance with 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). The purpose of the Schedule is to present a summary of those activities of
Bard College (College) funded by the federal government or pass-through entities for the year ended
June 30, 2024, using the accrual basis of accounting. For purposes of this Schedule, federal awards
include assistance provided by a federal agency directly or indirectly in the form of grants, contracts,
cooperative agreements, loans and loan guarantees, and other noncash assistance.
Negative amounts, if any, on the Schedule represent adjustments made to prior year expenditures in
the normal course of business.
b. Relationship to Financial Statements
Federal award revenues are reported in the College’s consolidated financial statements as
government grants. The College’s financial statements are presented using the accrual basis.
The Schedule presents only a selected portion of the activities of the College. It is not intended to,
and does not, present either the financial position, statement of activities, or other changes in net
assets of the College.
De Minimis Rate Used: N
Rate Explanation: The College has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The College is required to provide matching costs for certain federal grants. These costs are not included in the schedule
Title: Federal Student Financial Assistance- Federal Perkins Loan Program
Accounting Policies: a. Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (Schedule) has been prepared in
accordance with 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). The purpose of the Schedule is to present a summary of those activities of
Bard College (College) funded by the federal government or pass-through entities for the year ended
June 30, 2024, using the accrual basis of accounting. For purposes of this Schedule, federal awards
include assistance provided by a federal agency directly or indirectly in the form of grants, contracts,
cooperative agreements, loans and loan guarantees, and other noncash assistance.
Negative amounts, if any, on the Schedule represent adjustments made to prior year expenditures in
the normal course of business.
b. Relationship to Financial Statements
Federal award revenues are reported in the College’s consolidated financial statements as
government grants. The College’s financial statements are presented using the accrual basis.
The Schedule presents only a selected portion of the activities of the College. It is not intended to,
and does not, present either the financial position, statement of activities, or other changes in net
assets of the College.
De Minimis Rate Used: N
Rate Explanation: The College has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The Federal Perkins Loan Program listed below is administered directly by the College, and the
balances and transactions relating to that program are included in the College’s consolidated financial
statements. Loans made during the year are included in the Schedule of Expenditures of Federal
Awards. A summary of the Federal Perkins Loan Program is as follows:
Assistance Outstanding Payments Outstanding
Listing Balance Loans and Balance
Program Title/Award Title Number July 1, 2023 Issued Adjustments June 30, 2024
Federal Perkins Loan Program 84.038 $ 398,336 $ - $ 155,385 $ 242,951
Title: Federal Student Financial Assistance- Federal Direct Student Loans Program
Accounting Policies: a. Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (Schedule) has been prepared in
accordance with 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). The purpose of the Schedule is to present a summary of those activities of
Bard College (College) funded by the federal government or pass-through entities for the year ended
June 30, 2024, using the accrual basis of accounting. For purposes of this Schedule, federal awards
include assistance provided by a federal agency directly or indirectly in the form of grants, contracts,
cooperative agreements, loans and loan guarantees, and other noncash assistance.
Negative amounts, if any, on the Schedule represent adjustments made to prior year expenditures in
the normal course of business.
b. Relationship to Financial Statements
Federal award revenues are reported in the College’s consolidated financial statements as
government grants. The College’s financial statements are presented using the accrual basis.
The Schedule presents only a selected portion of the activities of the College. It is not intended to,
and does not, present either the financial position, statement of activities, or other changes in net
assets of the College.
De Minimis Rate Used: N
Rate Explanation: The College has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The College processed the following new loans under the Federal Direct Student Loans program
during the year ended June 30, 2024.
Stafford loans $ 9,520,819
Parent's loans for undergraduate students $2,891,256
Parent's loans for graduate students $786,614
Total deferred direct student loans $ 13,198,689
With respect to this program, the College is responsible only for the performance of certain
administrative duties and, accordingly, these loans are not included in the College’s consolidated
financial statements. It is not practical to determine the balances of loans outstanding to students of
the College under the Federal Direct Student Loans program as of June 30, 2024.