Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of York University (the University) under programs of the federal government 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of operations, it is not intended to and does not present the financial position, changes in net assets or cash flows of the University.
The federal student loan program, Perkins Loan Program, is administered by the University and balances and transactions relating to the programs are included in the University's basic financial statements. Payments by loan recipients (students) are handled through Heartland Educational Computer Systems, Inc. The outstanding loan balance at June 30, 2025, of Perkins Loans was $48,540.
Federal Direct Student Loans totaling $2,596,520 have been awarded directly to students. This program is part of the Federal Student Aid Program and part of the Student Financial Aid Cluster Programs being audited. Award number is P268K251788, ALN #84.268.