Audit 393746

Reporting EntityThe reporting entity includes all University of Iowa departments and other entities included in the University’s financial report except for the University of Iowa Center for Advancement and Affiliate and the University of Iowa Health System which are discretely presented component units. Basis of Presentation - The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of the University of Iowa 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). Programs listed in the Assistance Listing (AL) are so identified. Programs not in the AL are identified as other federal assistance. In accordance with the Uniform Guidance, federal financial assistance is defined as assistance which non-federal entities receive or administer in the form of grants, cooperative agreements, non-cash contributions or donations of property (including donated surplus property), direct appropriations, food commodities, loans, loan guarantees, interest subsidies, insurance and other assistance, but does not include amounts received as reimbursement for services rendered to individuals. Because the Schedule presents only a selected portion of the operations of the University of Iowa, it is not intended to and does not present the financial position, changes in net position, or cash flows of the University of Iowa. Type A programs, as defined by Uniform Guidance, are those programs for the University of Iowa which exceeded $3,000,000 in federal awards expended during the year ended June 30, 2024. Basis of Accounting - Expenditures reported on the Schedule are presented 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. Indirect Cost Rate - The University of Iowa uses a federally negotiated indirect cost rate. Grantees - Assistance received directly from the federal government is shown by the grantee receiving the funds. Assistance received from other entities is so noted.

Loan Balances of federally funded loan programs at June 30, 2025 were as follows: Perkins Loan Program Federal Capital Contributions (84.038) Balance outstanding at the end of the audit period was $1,952,110. Nurse Faculty Loan Program (NFLP) (93.264) Balances oustanding at the end of the audit period was $1,546,784. Health Professions Student Loans, Including Primary Care Loans/Loans for Disadvantaged Students (93.342) Balance outstanding at the end of the audit period was $8,591,026. Nursing Student Loans (93.364) Balance outstanding at the end of the audit period was $2,641,529.