Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Oakland University (the “University”) under programs of the federal government for the year ended June 30, 2025. The information in the 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 (the “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.
Expenditures reported in the Schedule are reported on the same basis of accounting as the University’s basic financial statements. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The pass-through entity identifying numbers are presented where available. The University has elected not to use the de minimis indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance.
As allowable and in accordance with federal regulations issued by the U.S. Department of Education, in the year ended June 30, 2025, the University transferred $265,000 of the 2024-2025 Federal Work-Study Program (ALN 84.033) award to the Federal Supplemental Educational Opportunity Grant (ALN 84.007) award, which it expended in the 2024-2025 award year.
The University participates in the Nurse Faculty Loan Program through the Department of Health and Human Services. The beginning of year balance and loans made during the year are disclosed in the schedule of expenditures of federal awards. The balance of loans outstanding for the Nurse Faculty Program (ALN 93.264) was $847,154 as of June 30, 2025.