Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”), includes the federal grant activity of Worcester Polytechnic Institute (the “University”) for the year ended June 30, 2025 and is presented on the accrual basis of accounting. The information in the 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). As the Schedule presents only a selected portion of the expenditures of the University, it is not intended to, and does not present the financial position, changes in net assets, or cash flows of the University. Direct awards are listed in total and pass-through awards are listed individually (with pass-through numbers when available) on the Schedule. Negative amounts represent adjustments or credits to amounts reported as expenditures in prior years in the normal course of business. Federal Assistance Listing numbers are presented where available. Amounts passed through to each subrecipient by Federal Assistance Listing are included in the total expenditure column of the respective awards and then additional detail provided in the column amounts passed through to the subrecipient.
The University applies its predetermined approved facilities and administrative rate when charging indirect costs to federal awards rather than the 10% de minimus cost rate as described in Section 200.414 of the Uniform Guidance.
The University did not process any new loans under the Federal Perkins Loan Program (Federal Assistance Listing # 84.038) for the year ended June 30, 2025. The balance of Perkins Loans outstanding at June 30, 2025 was $1,562,365.