Audit 42922

Title: Loan/loan guarantee outstanding balances Accounting Policies: 1. Summary of Significant Accounting Policies: Basis of Presentation: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal award programs administered by D'Youville University (the University), an entity as defined in Note 1 to the University's consolidated financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through from other governmental agencies and nonprofit organizations, are included on the Schedule. Basis of Accounting: The University uses the accrual basis of accounting for federal programs, consistent with the consolidated financial statements. The amounts reported as federal expenditures generally were obtained from the appropriate financial reports for the applicable programs and periods. The amounts reported in these federal financial reports are prepared from records maintained for each program, which are periodically reconciled to the University's financial reporting system. De Minimis Rate Used: N Rate Explanation: The University allocates certain indirect costs to federal programs based on an approved indirect cost plan, and as such does not apply the 10% de minimis rate permitted by the Uniform Guidance. FEDERAL PERKINS LOAN PROGRAM (84.038) - Balances outstanding at the end of the audit period were 760273. NURSE FACULTY LOAN PROGRAM (NFLP) (93.264) - Balances outstanding at the end of the audit period were 467860. NURSING STUDENT LOANS (93.364) - Balances outstanding at the end of the audit period were 2645691.