Notes to SEFA
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Seton Hill University and Affiliate (University) under programs of the federal government for the year ended June 30, 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 the University, it is not intended to, and does not, present the combined financial position, changes in net assets or cash flows of the University.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass through entity identifying numbers are presented where available.
The University has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The federal student loan program listed subsequently is administered directly by the University, and balances and transactions relating to this program are included in the University’s combined 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 June 30, 2025 consists of: CFDA Number: 84.038 Program Name: Federal Perkins Loan Program Outstanding Balance at June 30, 2025: $120,425