Audit 396262

The federal loan programs listed subsequently are administered directly by the University, and balances and transactions related to these programs are included in the University’s basic financial statements, which are issued separately. 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: Assistance Listing Number Program Name Outstanding Balance at June 30, 2025. 84.038 Federal Perkins Loan Program $2,799,735. 93.264 Nurse Faculty Loan Program 672,640. 93.342 Health Profession Student Loan Program 7,946,981. 93.364 Nursing Student Loan Program 145,061. The four campuses of the University (University of Nebraska – Lincoln, University of Nebraska – Omaha, University of Nebraska – Kearney, and University of Nebraska Medical Center) participate in the Federal Direct Loan Program, Assistance Listing No. 84.268, (including Federal Stafford and PLUS loans). Since the University does not administer the program, the outstanding loan balances have not been included in the Schedule. New loans made during the year of $206,175,589 are included in the Schedule.

Expenditures for federal programs are recognized using the cost accounting principles contained in the OMB Circular A-21, Cost Principles for Educational Institutions and the Uniform Guidance. Under those cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. Expenditures include a portion of costs associated with general University activities (facilities and administrative costs or indirect costs), which are allocated to federal awards under negotiated formulas commonly referred to as facilities and administrative cost rates. Facilities and administrative costs allocated to such awards for the year ended June 30, 2025, were based on predetermined fixed rates up to 55.5% negotiated with the University’s cognizant federal agency, the U.S. Department of Health and Human Services, or the indirect cost rate agreed upon through the grant agreement and are included as a component of the expenditures in the Schedule.