Notes to SEFA
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of Waynesburg University (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). Therefore, some amounts presented in this Schedule might differ from amounts presented in, or used in the preparation of, the basic financial statements. Since the Schedule presents only a selected portion of the operations of the University, it is not intended to and does not present the 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.
federal student loan program listed subsequently is administered directly by the University and balances and transactions relating to these programs are included in the 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 June 30, 2025 consists of: Federal awards expenditures include loans administered under the Federal Direct Student Loan Program during the year ended June 30, 2025, and Federal Perkins Loans, Nursing Student Loans, and Nurse Faculty Loans outstanding as of June 30, 2024, plus loans awarded during the year ended June 30, 2025.
The University has elected to use 10% de minimis indirect cost rate as allowed under the Uniform Guidance