Notes to SEFA
The accompanying Schedules of Expenditures of Federal and State Awards include the federal and state award activity of Texas Christian University (the University) for the year ended May 31, 2026. The amounts included in these schedules are presented on the accrual basis of accounting, as promulgated by accounting principles generally accepted in the United States of America. The information in the Schedule of Expenditures of Federal Awards is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). The information in the Schedule of Expenditures of State Awards is presented in accordance with the requirements of the Texas Grant Management Standards (TxGMS) Version 2.0. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the University’s financial statements.
The University uses the applicable federally negotiated indirect cost rate and has elected not to use the 15% de minimis indirect cost rate allowed under the Uniform Guidance.
Perkins Loan Program, Nurse Faculty Loan Program (NFLP), and Nursing Student Loans (NSL) loans are disbursed by the University from capital contributions from the federal government and the University and from funds made available by the collection of principal and interest of prior loans. These programs are administered directly by the University, and balances and transactions related to the programs are included in the University’s basic financial statements. Loans outstanding at the beginning of the year in addition to loans made during the year are included in the Schedule of Expenditures of Federal Awards according to §200.502(b) of the Uniform Guidance. The Perkins loan program expired on September 30, 2017. No additional disbursements are permitted after June 30, 2018, and none were made for the year ended May 31, 2026. The balance of loans outstanding at May 31, 2026 are as follows: 84.038_ Perkins_ $ 615,508; 93.264_Nurse Faculty Loan Program_$ 3,636,404; 93.364_Nursing Student Loan_$378,335. The Secretary of Education makes disbursements to students and parents for the Federal Direct Student Loans based on eligibility as determined by the University. This program is not administered directly by the University and is presented in the Schedule of Expenditures of Federal Awards as the amount of new loans made during the fiscal year ending May 31, 2026 according to §200.502(c) of the Uniform Guidance. The amounts for new loans the University processed for the student loan programs during the fiscal year ended May 31, 2026, are as follows: 84.268_Direct Loan Program_ $ 86,406,056; 93.264_Nurse Faculty Loan Program_$467,396; 93.364_Nursing Student Loan(CY)_$ 31,070.