Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes all federal award activity of Oklahoma Panhandle State 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 financial position, changes in net position, or cash flows of the University.
The University participates in the Federal Direct Student Loans Program (the Program), Federal Assistance Listing number 84.268, which includes Federal Subsidized Direct Loans, Federal Unsubsidized Direct Loans, Federal Graduate Student PLUS Direct Loans and Federal Direct Parent Loans for Undergraduate Students. The Program requires the University to draw down cash, and the University is required to perform certain administrative functions under the Program. Failure to perform such functions may require the University to reimburse the loan guarantee agencies. The University is not responsible for the collection of these loans. The value of loans made during the audit period are considered federal awards expended for the audit period.
During the year ended June 30, 2025, the College did not provide any federal awards to subrecipients.
The Institution 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 school 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 34 CFR 668.8(e)(2)