Title: Basis of Accounting
Accounting Policies: Presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: Administrative costs are included in the reported expenditures to the extent such costs are included in the federal financial reports used as the source for the data presented. Facilities and administrative costs applicable to the College’s government sponsored research grants are charged to programs based on predetermined rates. The base rate is 58% for on-campus research for the fiscal year June 30, 2024, based on direct salaries and wages.
Total facilities and administrative costs recovered for 2024 amounted to $105,695. The College has not elected to utilize the 10% deminimus indirect cost rate in Part 200.514 of the Uniform Guidance.
The accompanying Supplementary Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Hamilton College (the College) and is presented on the accrual basis of
accounting. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation 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 the College, it is not intended to and does not present the financial
position, changes in net assets or cash flows of the College. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the basic financial
statements.
Title: Administrative Costs
Accounting Policies: Presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: Administrative costs are included in the reported expenditures to the extent such costs are included in the federal financial reports used as the source for the data presented. Facilities and administrative costs applicable to the College’s government sponsored research grants are charged to programs based on predetermined rates. The base rate is 58% for on-campus research for the fiscal year June 30, 2024, based on direct salaries and wages.
Total facilities and administrative costs recovered for 2024 amounted to $105,695. The College has not elected to utilize the 10% deminimus indirect cost rate in Part 200.514 of the Uniform Guidance.
Administrative costs are included in the reported expenditures to the extent such costs are included in the federal financial reports used as the source for the data presented. Facilities and administrative costs
applicable to the College’s government sponsored research grants are charged to programs based on predetermined rates. The base rate is 58% for on-campus research for the fiscal year June 30, 2024,
based on direct salaries and wages.
Total facilities and administrative costs recovered for 2024 amounted to $105,695. The College has not elected to utilize the 10% deminimus indirect cost rate in Part 200.514 of the Uniform Guidance.
Title: Federal Direct Student Loan Program (Federal Assistance Listing number 84.268)
Accounting Policies: Presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: Administrative costs are included in the reported expenditures to the extent such costs are included in the federal financial reports used as the source for the data presented. Facilities and administrative costs applicable to the College’s government sponsored research grants are charged to programs based on predetermined rates. The base rate is 58% for on-campus research for the fiscal year June 30, 2024, based on direct salaries and wages.
Total facilities and administrative costs recovered for 2024 amounted to $105,695. The College has not elected to utilize the 10% deminimus indirect cost rate in Part 200.514 of the Uniform Guidance.
During the year ended June 30, 2024, the College processed $5,544,415 of new loans under the Federal Direct Student Loans Program (which includes subsidized and unsubsidized Federal Stafford Loans and
Federal Parents’ Loans for Undergraduate Students). With respect to the Federal Direct Student loans, the College is only responsible for the performance of certain administrative duties; therefore, the College’s
financial statements do not include any amounts relative to these loans.