Title: Basis of Presentation
Accounting Policies: Expenditures are recognized as incurred using the accrual basis of accounting and cost accounting principles of the Uniform Guidance. Under these cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. Expenditures also include a portion of costs associated with general University activities (facilities and administrative costs) which are allocated to awards under negotiated formulas commonly referred to as facilities and administrative cost rates (Note 3). 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.
De Minimis Rate Used: N
Rate Explanation: The University elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The University has approved predetermined facilities and administrative cost rates effective through fiscal year June 30, 2024 for on-campus and off-campus sponsored research program activities.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Brandeis University (the University) under programs of the federal government for the year ended June 30, 2024. The information in the 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 the University, it is not intended to and does not present the financial position, changes in net assets or cash flows of the University.
For purposes of the Schedule, federal awards include all grants, contracts and similar agreements entered into directly between the University and agencies and departments of the federal government and all subawards passed through to the University by nonfederal organizations pursuant to federal grants, contracts and similar agreements. The Schedule also denotes awards passed through from the University to other non-federal subrecipient organizations.
Title: Significant Accounting Policies
Accounting Policies: Expenditures are recognized as incurred using the accrual basis of accounting and cost accounting principles of the Uniform Guidance. Under these cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. Expenditures also include a portion of costs associated with general University activities (facilities and administrative costs) which are allocated to awards under negotiated formulas commonly referred to as facilities and administrative cost rates (Note 3). 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.
De Minimis Rate Used: N
Rate Explanation: The University elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The University has approved predetermined facilities and administrative cost rates effective through fiscal year June 30, 2024 for on-campus and off-campus sponsored research program activities.
Expenditures are recognized as incurred using the accrual basis of accounting and cost accounting principles of the Uniform Guidance. Under these cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. Expenditures also include a portion of costs associated with general University activities (facilities and administrative costs) which are allocated to awards under negotiated formulas commonly referred to as facilities and administrative cost rates (Note 3). 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: Facilities and Administrative Cost Rates
Accounting Policies: Expenditures are recognized as incurred using the accrual basis of accounting and cost accounting principles of the Uniform Guidance. Under these cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. Expenditures also include a portion of costs associated with general University activities (facilities and administrative costs) which are allocated to awards under negotiated formulas commonly referred to as facilities and administrative cost rates (Note 3). 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.
De Minimis Rate Used: N
Rate Explanation: The University elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The University has approved predetermined facilities and administrative cost rates effective through fiscal year June 30, 2024 for on-campus and off-campus sponsored research program activities.
The University elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The University has approved predetermined facilities and administrative cost rates effective through fiscal year June 30, 2024 for on-campus and off-campus sponsored research program activities. The base rates in effect for the year ended June 30, 2024 were 59% for on campus research and 26% for off-campus research. The rates for other federally sponsored programs were 36% for on-campus programs and 26% for off-campus programs. Facilities and administrative cost recoveries are reported as part of federal expenditures on the Schedule.
Title: Federal Student Financial Assistance
Accounting Policies: Expenditures are recognized as incurred using the accrual basis of accounting and cost accounting principles of the Uniform Guidance. Under these cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. Expenditures also include a portion of costs associated with general University activities (facilities and administrative costs) which are allocated to awards under negotiated formulas commonly referred to as facilities and administrative cost rates (Note 3). 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.
De Minimis Rate Used: N
Rate Explanation: The University elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The University has approved predetermined facilities and administrative cost rates effective through fiscal year June 30, 2024 for on-campus and off-campus sponsored research program activities.
Perkins Loan Program
The Perkins Loan Program listed below is administered directly by the University, and balances and transactions relating to this program are included in the University’s financial statements. Loan activities and balances consist of the following for the year ended June 30, 2024:
See the Notes to the SEFA for chart/table
As required by the Uniform Guidance, the amount shown on the Schedule as expenditures for the Perkins Loan Program is equal to the balance outstanding at July 1, 2023. The University is continuing to service loans under the Perkins programs; however, no new loans were made subsequent to September 30, 2017. There was no administrative cost allowance recovered for the year ended June 30, 2024.
Federal Direct Loans
The University distributed $16,260,245 of federally guaranteed loans to students of the University through the Federal Direct Loan Program (Assistance Listing Number 84.268), which includes Direct Subsidized and Unsubsidized Loans, and Direct Parent Loans for Undergraduate Students. These distributions and the related funding sources are not included in the University’s financial statements.