Notes to SEFA
The accompanying schedule of expenditures of federal awards for the year ended June 30, 2025 includes the federal grant activity of Sarah Lawrence College (the “College”) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement 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 College’s basic 2025 financial statements.
The College is responsible only for the performance of certain ongoing administrative duties with respect to the Federal Direct Loan Program. Accordingly, the outstanding loan balances under this program are not included in the College’s accompanying financial statements. It is not practicable to determine the balance of loans outstanding to students of the College under this program at June 30, 2025. For the year ended June 30, 2025, $11,140,851 of direct loans were disbursed to students.
The College has elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance