Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Rensselaer Polytechnic Institute and its affiliates (“the Institute”) for the year ended June 30, 2025 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 consolidated financial statements. Negative amounts represent adjustments to amounts reported in prior years in the normal course of business. Assistance listing and pass-through identifying numbers are presented where available.
The Institute is a full participant in the Federal Direct Student Loans Program, processing student loan applications, including subsidized/unsubsidized Direct loans, undergraduate/graduate PLUS loans, via the Department of Education. The lender for these federally guaranteed loans is the Department of Education. The current year disbursements under the program are included in the Schedule.
The outstanding balance of loans under the Federal Perkins Loan Program was $2,993 as of June 30, 2025
The Institute applied for reimbursement of certain expenses related to the COVID-19 pandemic and other weather-related incidents under Assistance Listing 97.036, FEMA Public Assistance through New York State. Expenditures under this program are reflected in the Schedule in the year in which a project application is obligated. The Schedule includes $370 of expenditures incurred in fiscal years 2021 and 2022, all obligated in fiscal year 2025. The total expenditures included in the 2025 Schedule represent a reconciling item between the federal expenses in the Institute’s financial statements and the amount included on the Schedule.
Facilities and administrative costs are charged to federal grants and contracts at predetermined federally approved rates. The Institute has elected not to use the 10 or 15 percent de minimis indirect cost rate, as applicable allowed under the Uniform Guidance.