Notes to SEFA
BASIS OF PRESENTATION - The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Dominican University New York (the “University”) under programs of the federal government for the year ended June 30, 2025 and is prepared on the accrual basis of accounting. 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 assets, or cash flows of the University.
For the grants obtained through the United States Department of Health and Human Services the University has elected to use the 10 percent de minimis indirect cost rate allowed under Uniform Guidance.
Federally-guaranteed loans distributed to students of the University through the Federal Direct Loan Program during the year ended June 30, 2025 are summarized as follows. The University is responsible only for the performance of certain ongoing administrative duties with respect to the Federal Direct Loan Program. Accordingly, the outstanding loan balances under this program are not included in the University’s basic financial statements. It is not practical to determine the balance of loans outstanding to students of the University under this program at June 30, 2025.