Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of all federal financial assistance programs of the University of New England (the University) for the year ended May 31, 2026. 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). 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.
The federal student loan programs listed subsequently are administered directly by the University, and balances and transactions relating to these programs are included in the University's financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at May 31, 2026 consists of: See Notes to the SEFA for chart/table