Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the University of Mary (the University) under programs of the federal government for the year ended June 30, 2025. The information 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 Mary, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the University of Mary.
The federal student loan programs listed subsequently are administered directly by the University of Mary and the balances and transactions relating to these programs are included in the University of Mary’s basic financial statements. Loans made during the year are included in the federal expenditures presented in the schedule. At June 30, 2025, the loan receivable balances for the Nursing Student Loan Program totaled $61,119.