The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the University of Dayton (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 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 of Dayton, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the University of Dayton.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The amount presented as Perkins Loan Fund expenditures consists of beginning outstanding loan balances of approximately $1,555,268. Loans outstanding at June 30, 2025, totaled $1,065,393.
The University acts as an intermediary for students receiving Federal Family Education Loan Program loans (CFDA No. 84.268), which includes the Direct Stafford Loan and Parent’s Loans for Undergraduate Students, from the federal government. The federal government is responsible for billings and collections of the loans. The University assists the federal government by processing the applications and applying funds to student accounts from the federal government. Since this program is administered by the federal government, new loans made in the fiscal year ended June 30, 2025, related to Federal Family Education Loan Program loans, are considered current year federal expenditures, whereas the outstanding loan balances are not. The total amount processed during fiscal year 2025 is included on the Schedule. The University is responsible only for the performance of certain administrative duties with respect to the Federal Direct Student Loan Programs and, accordingly, balances and transactions relating to the loan programs are not included in the University’s consolidated financial statements. Therefore, it is not practical to determine the balance of loans outstanding to student and former students of the University at June 30, 2025.
The University is using a federally negotiated Facility and Administrative (F&A) cost rate and has elected not to use the applicable de minimis indirect cost rate (10% or 15%) allowed under the Uniform Guidance. The F&A rate is negotiated with the University’s cognizant federal agency.
See the Notes to the SEFA for chart/table