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 2024.
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, 2024 is presented below:
Federal Perkins loan program (ALN 84.038) $ 254,496
Nursing Student (ALN 93.364) $ 5 ,750