Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The university used the negotiated Facilities & administrative cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the
federal award activity of Troy University, under programs of the federal government for the year
ended September 30, 2024. 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 Troy
University, it is not intended to and does not present the financial position, changes in net
position, or cash flows of Troy University.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The university used the negotiated Facilities & administrative cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The university used the negotiated Facilities & administrative cost rate.
Troy University has elected not to use the 10-percent de minimis indirect cost rate as allowed in
the Uniform Guidance.