The accompanying supplementary schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Emory University and its subsidiaries (the University) and is presented on the accrual basis of accounting. The Schedule presents all grants, contracts, and similar agreements entered into directly between agencies and departments of the federal government and subawards to the University from nonfederal organizations pursuant to federal grants, contracts, and similar agreements. The Schedule also presents awards passed through from the University to other nonfederal subrecipient organizations. 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 (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements. The accompanying supplementary schedule of cash receipts and expenditures of State of Georgia awards includes expenditures incurred by the University and grant revenues received from State of Georgia agencies under various state contracts. Negative balances represent programs with unfunded expenditures prior to normal closeout procedures, which were subsequently transferred to unrestricted cost centers.
Expenditures for federal student financial assistance programs are recognized as incurred and include grants to students under the Federal Pell Grant and Federal Supplemental Educational Opportunity Grant Programs, student earnings under the Federal Work Study Program, and administrative cost allowances, where applicable. Expenditures for loans related to the Federal Direct Student Loan Programs (FDSLP) are reported in the Schedule when disbursed. New loans made during the fiscal year and loans from previous fiscal years for which the University has continuing compliance requirements to adhere to are reported in the Schedule. Expenditures for other federal awards are recognized as incurred using the cost accounting principles contained in Uniform Guidance. Under these cost principles, certain types of expenses are not allowable or are limited as to reimbursement.
Most federal financial assistance is in the form of cash awards. However, there are a number of federal programs that do not involve cash transactions with the University. These noncash transactions in which the University obtains other assistance are the FDSLP and revolving loan programs, such as the Federal Perkins Loan Program. The loans advanced and related expenditures are as follows for the various student loan programs: AL # Amount Federal Direct Student Loan Programs: Student loans advanced: Subsidized Stafford Loan Program 84.268 $ 1,564,790 Unsubsidized Stafford Loan Program 84.268 74,719,470 Total Direct Stafford Loan Program 76,284,260 Federal Direct PLUS Loan Program 84.268 100,874,868 Total Federal Direct Student Loan Programs $ 177,159,128 The Federal Perkins Loan (FPL) program, Nurse Faculty Loan Program (NFLP), Health Professions Student Loans (HPSL) program, and Nursing Student Loans (NSL) program are administered directly by the University, and balances and transactions relating to these programs are included in the University’s consolidated financial statements. The amounts presented on the Schedule include the FPL, NFLP, HPSL, and NSL outstanding as of August 31, 2023 plus any loans issued in the current year and administrative charge, as applicable. FPL, NFLP, HPSL, and NSL outstanding at August 31, 2025 totaled $938,006,$2,016,857, $608,261, and $706,148, respectively. NFLP, HPSL, and NSL issued $1,286,199, $248,134, and $141,962 in new loans during the year ended August 31, 2025. No FPL were issued in the current year. The University is responsible for the performance of certain administrative duties with respect to the FDSLP. It is not practicable to determine the balance of loans outstanding to students and former students of the University under this program as of August 31, 2025. These loans are not included in the University’s consolidated financial statements.
Under the Federal Supplemental Educational Opportunity Grant Program, the University matched $381,713 in funds awarded to students for the year ended August 31, 2025 in addition to the federal share of expenditures included in the Schedule. Under the Federal Work Study Program, the University matched $469,302 in total compensation to students for the year ended August 31, 2025 in addition to the federal share of expenditures included in the Schedule.
The University recorded an administrative cost allowance of $147,046 for the year ended August 31, 2025. This amount is included in the Schedule as federal expenditures under the Federal Work Study Program.
For the year ended August 31, 2025, the University elected to not use the de minimis indirect cost rate permitted by the Uniform Guidance.