Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs administered by D'Youville University (the University), an entity as defined in Note 1 to the University’s consolidated financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through from other governmental agencies and nonprofit organizations, are included on the SEFA. Basis of Accounting The University uses the accrual basis of accounting for federal programs, consistent with the consolidated financial statements. The amounts reported as federal expenditures generally were obtained from the appropriate financial reports for the applicable programs and periods. The amounts reported in these federal financial reports are prepared from records maintained for each program, which are periodically reconciled to the University’s financial reporting system. Indirect Costs The University allocates certain indirect costs to federal programs based on an approved indirect cost plan, and as such does not apply the 10% de minimis rate permitted by the Uniform Guidance.
Total student loans guaranteed by the U.S. Department of Education issued through the University under Federal Direct Student Loans (Assistance Listing #84.268) for the year ended May 31, 2025 were as follows: Direct Subsidized Loans $2,369,720, Direct Unsubsidized Loans $18,928,289, and Direct PLUS Loans $15,057,443 totaling $36,355,452. The following is a summary of loans made during the year ended May 31, 2025 and the loan balances outstanding, including interest and other charges, at May 31, 2025: U.S. Department of Education - Federal Perkins Loan Program, #84.038, total amount of loan made $0, total amount of loan outstanding $83,404; U.S. Department of Health and Human Services - Nursing Faculty Loan Program, #93.264, total amount of loan made $0, total amount of loan outstanding $454,334; U.S. Department of Health and Human Services - Undergraduate, #93.364, total amount of loan made $1,598,130, total amount of loan outstanding $5,764,915; and U.S. Department of Health and Human Services - Graduate, #93.364, total amount of loan made $0, total amount of loan outstanding $6,830. The total of U.S. Department of Health and Human Services loans made is $1,598,130 and total loans outstanding is $5,771,745. As required by the Uniform Guidance, the amounts shown on the SEFA are the balances of loans outstanding as of May 31, 2024 plus the amount of loans made during the year ended May 31, 2025.