Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) has been prepared usingthe accrual basis of accounting in accordance with the format as set forth in 2 CFR 200 (Uniform Guidance)Subpart F, Audit Requirements, issued by the United States Office of Management and Budget. The Schedulereflects the expenditures of Wright State University under programs financed by the U.S. government for theyear ended June 30, 2022. Because the schedule presents only a selected portion of the operations of theUniversity, it is not intended to and does not present the financial position, changes in net position or cashflows of the University.For purposes of the Schedule, expenditures of federal awards include the following:? Direct federal awards? Federal Direct Student Loans processed by the University? Outstanding balances of federal loan programs administered by the University? Pass-through funds received from non-Federal organizations made under federally sponsored programsconducted by those organizations.Awards are classified into major program and non-major program categories in accordance with theprovisions of the Office of Management and Budget (OMB) 2 CFR 200 (Uniform Guidance) Subpart F, AuditRequirements. Federal Assistance Listing Numbers (FALN) or Primary Grant Numbers are presented forthose programs for which such numbers are available.Negative amounts shown on the schedule represent adjustments or credits made in the normal course ofbusiness to amounts reported as expenditures in prior years.The University did not elect to use the 10% de minimis cost rate as covered in ?200.414 Indirect (F&A) costs.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
FEDERAL PERKINS LOAN PROGRAM FEDERAL CAPITAL CONTRIBUTIONS (84.U38) - Balances outstanding at the end of the audit period were 3835345. HEALTH PROFESSIONS STUDENT LOANS, INCLUDING PRIMARY CARE LOANS/LOANS FOR DISADVANTAGED STUDENTS (93.342) - Balances outstanding at the end of the audit period were 11014. HEALTH PROFESSIONS STUDENT LOANS, INCLUDING PRIMARY CARE LOANS/LOANS FOR DISADVANTAGED STUDENTS (93.342) - Balances outstanding at the end of the audit period were 22059. NURSE FACULTY LOAN PROGRAM (NFLP) (93.264) - Balances outstanding at the end of the audit period were 11347. NURSING STUDENT LOANS (93.364) - Balances outstanding at the end of the audit period were 752270. HEALTH PROFESSIONS STUDENT LOANS, INCLUDING PRIMARY CARE LOANS/LOANS FOR DISADVANTAGED STUDENTS (93.342) - Balances outstanding at the end of the audit period were 215213.
Title: Federal Direct Student Loans
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) has been prepared usingthe accrual basis of accounting in accordance with the format as set forth in 2 CFR 200 (Uniform Guidance)Subpart F, Audit Requirements, issued by the United States Office of Management and Budget. The Schedulereflects the expenditures of Wright State University under programs financed by the U.S. government for theyear ended June 30, 2022. Because the schedule presents only a selected portion of the operations of theUniversity, it is not intended to and does not present the financial position, changes in net position or cashflows of the University.For purposes of the Schedule, expenditures of federal awards include the following:? Direct federal awards? Federal Direct Student Loans processed by the University? Outstanding balances of federal loan programs administered by the University? Pass-through funds received from non-Federal organizations made under federally sponsored programsconducted by those organizations.Awards are classified into major program and non-major program categories in accordance with theprovisions of the Office of Management and Budget (OMB) 2 CFR 200 (Uniform Guidance) Subpart F, AuditRequirements. Federal Assistance Listing Numbers (FALN) or Primary Grant Numbers are presented forthose programs for which such numbers are available.Negative amounts shown on the schedule represent adjustments or credits made in the normal course ofbusiness to amounts reported as expenditures in prior years.The University did not elect to use the 10% de minimis cost rate as covered in ?200.414 Indirect (F&A) costs.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The University is responsible only for the performance of certain administrative duties with respect to the Federal Direct Student Loan program (FALN Number 84.268). Therefore, only new loans made during the year are reflected in the schedule.
Title: Personal Protective Equipment (PPE) (Unaudited)
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) has been prepared usingthe accrual basis of accounting in accordance with the format as set forth in 2 CFR 200 (Uniform Guidance)Subpart F, Audit Requirements, issued by the United States Office of Management and Budget. The Schedulereflects the expenditures of Wright State University under programs financed by the U.S. government for theyear ended June 30, 2022. Because the schedule presents only a selected portion of the operations of theUniversity, it is not intended to and does not present the financial position, changes in net position or cashflows of the University.For purposes of the Schedule, expenditures of federal awards include the following:? Direct federal awards? Federal Direct Student Loans processed by the University? Outstanding balances of federal loan programs administered by the University? Pass-through funds received from non-Federal organizations made under federally sponsored programsconducted by those organizations.Awards are classified into major program and non-major program categories in accordance with theprovisions of the Office of Management and Budget (OMB) 2 CFR 200 (Uniform Guidance) Subpart F, AuditRequirements. Federal Assistance Listing Numbers (FALN) or Primary Grant Numbers are presented forthose programs for which such numbers are available.Negative amounts shown on the schedule represent adjustments or credits made in the normal course ofbusiness to amounts reported as expenditures in prior years.The University did not elect to use the 10% de minimis cost rate as covered in ?200.414 Indirect (F&A) costs.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The University received donated PPE during the year with an approximate fair market value of $75,287.