Notes to SEFA
This Schedule of Expenditures of Federal Awards (Schedule) includes the federal awards activity of Ashland University (University) 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); therefore, some amounts presented in this Schedule may differ from amounts presented in or used in the preparation of the basic financial statements. 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. Assistance Listing numbers are presented for those programs for which such numbers were available. All programs are presented by federal agency. Pass-through programs are also presented by the entity through which the University received the federal award.
The University participates in the Federal Direct Student Loan Program (84.268). The University originates but does not provide funding for the Federal Direct Student Loan Program (FDSL). The $20,549,091 presented on the Schedule of Expenditures of Federal Awards represents the value of new FDSL processed by the University for the year ended May 31, 2025. Federal Perkins Loan Program The amount presented on the Schedule for the Federal Perkins Loan Program (84.038) represents loans outstanding at the beginning of the year for which the government imposes continuing compliance requirements. The balance of Federal Perkins Loans outstanding as of May 31, 2025, was $152,916. Nurse Faculty Loan Program The amount presented on the Schedule for the Nurse Faculty Loan Program (93.264) represents loans outstanding at the beginning of the year for which the government imposes continuing compliance requirements. The balance of Nurse Faculty Loans outstanding as of May 31, 2025, was $1,041,525.
The University has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.