Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Des Moines University Osteopathic Medical Center (the University) for the year ended June 30, 2025. 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 the University, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the University. Deductions or expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance. Under those cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available. The University has not elected the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The University had the following loan balances outstanding at June 30, 2025. These loan balances outstanding are included in the federal expenditures presented in the schedule (See the Notes to the SEFA for chart/table). The University is responsible only for the performance of certain administrative duties with respect to the Federal Direct Loan Program and, accordingly, these loan balances are not included in its financial statements. It is not practical to determine the balance of the loans outstanding to students and former students of the University under these programs at June 30, 2025.