Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Drury University under programs of the federal government for the year ended May 31, 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 Drury University, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Drury University.
Federal Direct Student Loan balances are not included in Drury University’s financial statements. Loans disbursed during the year are included in federal expenditures presented in the Schedule. The Federal Perkins Loan Program listed subsequently is administered directly by Drury University, and balances and transactions relating to this program are included in the Drury University’s basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at May 31, 2025, consists of: Assistance Listing Number - 84.038 Program Name - Federal Perkins Loan Program Balance at May 31, 2025 - $88,360