Notes to SEFA
Title: OUTSTANDING LOAN BALANCES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Bastyr 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.
De Minimis Rate Used: N
Rate Explanation: Bastyr University has an indirect cost rate. The cognizant agency is the Department of Health and Human Services. As such, the University is not eligible to use the 10% de minimis indirect rate.
Outstanding Perkins student loan funds receivable under the Perkins Loan program were $552,765 at June 30, 2022.