Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Dean College (the “College”) under programs of the federal government for the year ended May 31, 2026. 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the College, it is not intended to and does not present the financial position, changes in net assets or cash flows of the College. The College includes loans granted under the Federal Direct Student Loans Program as expenditures of federal awards.
The federal Perkins Loans Program was administered directly by the college and during 2026 the College liquidated the program and assigned remaining loans to the U.S. Department of Education as permitted by the provisions of the program.