Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Seattle University (the University) and is presented on the accrual basis of accounting. The University’s audited consolidated financial statements are presented on the same basis.
The University has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The grants were awarded before the de minimis increase to 15% on October 1, 2024, and no subject to the increased rate. The indirect cost rate on federal programs conforms to the specific federal program contact.
The amount shown as current year expenditures within the Schedule represents only the federal grant portion of the program costs. Entire program costs, including the University’s matching share, are more than the expenditures shown within the Schedule. Expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The University administers the Federal Perkins Loan and Nursing Student Loan programs. The amounts listed for these loans on the Schedule include any loans made during the fiscal year plus the balance of loans from previous years for which the federal government imposes continuing compliance requirements, plus any interest subsidy, cash, or administrative cost allowances received. The table below provides the balance at the end of the current fiscal year and current year lending activity: See the Notes to the SEFA for chart/table (b) During the year ended June 30, 2025, the University authorized for processing the following amounts of new loans under the Federal Direct Loan Program, which includes Stafford Loans and Parents’ Loans for Undergraduate Students: See the Notes to the SEFA for chart/table