Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of St. Catherine 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 2 CFR 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 St. Catherine University, it is not intended to and does not present the financial position, changes in net assets, or cash flows of St. Catherine University.
The federal student loan programs listed subsequently are administered directly by St. Catherine University, and balances and transactions relating to these programs are included in St. Catherine 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: Federal Perkins Loan Program - 84.038 - Amount Outstanding $1,037,485; Nursing Student Loans - 93.364 - Amount Oustanding $2,138,492; Nursing Faculty Loan Program - 93.264 - Amount Outstanding $1,242,680
The University is in compliance with the following institutional and program eligibility requirements under the Higher Education Act of 1965 and Federal regulations under 34 CFR 668.23: • Correspondence courses the institution offers under 34 CFR 600.7(b) and (g); • Regular students that enroll in correspondence courses under 34 CFR 600.7(b) and (g);• Institution’s regular students that are incarcerated under 34 CFR 600.7(c) and (g); • Completion rates for confined or incarcerated individuals enrolled in non-degree programs at nonprofit institutions under 34 CFR 600.7(c)(3)(ii) and (g); • Institution’s regular students that lack a high University diploma or its equivalent under 34 CFR 600.7(d) and (g); • Completion rates for short-term programs under 34 CFR 668.8(f) and (g); • Placement rates for short-term programs under https://www.ecfr.gov/current/title- • 34/subtitle-B/chapter-VI/part-668/subpart-A/section-668.8 34 CFR 668.8(e)(2).