Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) presents the federal grant activity of NYU and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and therefore, some amounts may differ from amounts presented in, or used in the preparation of NYUs consolidated financial statements. Negative amounts represent adjustments or credits to amounts reported as expenditures in prior years arising out of the normal course of business. Assistance Listing Numbers (ALN) and pass-through numbers are provided when available. The research expenditures for direct costs are recognized using the cost accounting principles contained in OMB Circular A-21, Cost Principles for Educational Institutions, and OMB UniformGuidance, where applicable. Under those cost principles, certain types of expenditures are not allowed for reimbursement. In addition, expenditures include a portion of costs associated with general NYU activities (facilities and administrative) which are allocated to federal awards under negotiated formulas commonly referred to as facilities and administrative rates (also under the provisions of OMB Circular A-21 and OMB Uniform Guidance, where applicable). As described in Note 2, NYU, with the exception of NYU Langone Hospitals, does not use the 10% de-minimis indirect cost rate for sponsored programs.
De Minimis Rate Used: N
Rate Explanation: Facilities and Administrative Cost Rates The University had predetermined facilities and administrative cost rates for the fiscal year ended 2022, under a rate agreement with the Department of Health and Human Services (DHHS), the Universitys federal cognizant agency. The base rate for on-campus research was 60% for fiscal 2022. The base rate for off-campus research was 26% for fiscal 2022. NYUGSoM and NYU Long Island School of Medicine had predetermined facilities and administrative cost rates for the fiscal year ended 2022, under separate rate agreements with the DHHS, their federal cognizant agency. The NYUGSoM base rates for on-campus and off-campus research, respectively, were 69.5% and 26% for fiscal 2022. The NYU Long Island School of Medicine base rates for on-campus and off-campus research, respectively, were 54% and 17% for fiscal 2022.
NYU administers and accounts for all aspects of the campus-based student loan programs. Accordingly, NYUs consolidated financial statements include all activity related to these programs. The amount of loans outstanding under each of these programs at August 31, 2022 are presented below. See the Notes to the SEFA for chart/table. With respect to the Federal Direct Loan Program, NYU is only responsible for the performance of certain administrative duties. Therefore, the transactions and the balances of loans outstanding related to this program are not included in NYUs consolidated financial statements. The Schedule includes the loans issued to NYU students during the year ended August 31, 2022. The administrative cost allowance for the Federal Pell Grant Program of $29,245 and for the College Work Study Program of $661,970 have been included in the schedule of expenditures of federal awards. NYU did not receive an administrative cost allowance from the Federal Perkins Loan Program (ALN 84.038) for the year ended August 31, 2022.
Title: 4. HRSA COVID-19 Claims Reimbursement for the Uninsured Program and the
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) presents the federal grant activity of NYU and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and therefore, some amounts may differ from amounts presented in, or used in the preparation of NYUs consolidated financial statements. Negative amounts represent adjustments or credits to amounts reported as expenditures in prior years arising out of the normal course of business. Assistance Listing Numbers (ALN) and pass-through numbers are provided when available. The research expenditures for direct costs are recognized using the cost accounting principles contained in OMB Circular A-21, Cost Principles for Educational Institutions, and OMB UniformGuidance, where applicable. Under those cost principles, certain types of expenditures are not allowed for reimbursement. In addition, expenditures include a portion of costs associated with general NYU activities (facilities and administrative) which are allocated to federal awards under negotiated formulas commonly referred to as facilities and administrative rates (also under the provisions of OMB Circular A-21 and OMB Uniform Guidance, where applicable). As described in Note 2, NYU, with the exception of NYU Langone Hospitals, does not use the 10% de-minimis indirect cost rate for sponsored programs.
De Minimis Rate Used: N
Rate Explanation: Facilities and Administrative Cost Rates The University had predetermined facilities and administrative cost rates for the fiscal year ended 2022, under a rate agreement with the Department of Health and Human Services (DHHS), the Universitys federal cognizant agency. The base rate for on-campus research was 60% for fiscal 2022. The base rate for off-campus research was 26% for fiscal 2022. NYUGSoM and NYU Long Island School of Medicine had predetermined facilities and administrative cost rates for the fiscal year ended 2022, under separate rate agreements with the DHHS, their federal cognizant agency. The NYUGSoM base rates for on-campus and off-campus research, respectively, were 69.5% and 26% for fiscal 2022. The NYU Long Island School of Medicine base rates for on-campus and off-campus research, respectively, were 54% and 17% for fiscal 2022.
COVID-19 Coverage Assistance Fund NYU Langone Health conducted COVID-19 testing and/or provided treatment for uninsured individuals with a COVID-19 primary diagnosis on or after February 4, 2020 and as such has requested claims reimbursement under ALN 93.461. NYU has recorded $1,882,009 on the Schedule consisting of $2,007,071 reimbursed to date from HRSA on claims with service dates during fiscal year 2022 and an adjustment of ($125,062) related to claims with service dates prior to fiscal year 2022.
Title: 5. Department of Health and Human Services PRF and ARP Rural Distribution
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) presents the federal grant activity of NYU and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and therefore, some amounts may differ from amounts presented in, or used in the preparation of NYUs consolidated financial statements. Negative amounts represent adjustments or credits to amounts reported as expenditures in prior years arising out of the normal course of business. Assistance Listing Numbers (ALN) and pass-through numbers are provided when available. The research expenditures for direct costs are recognized using the cost accounting principles contained in OMB Circular A-21, Cost Principles for Educational Institutions, and OMB UniformGuidance, where applicable. Under those cost principles, certain types of expenditures are not allowed for reimbursement. In addition, expenditures include a portion of costs associated with general NYU activities (facilities and administrative) which are allocated to federal awards under negotiated formulas commonly referred to as facilities and administrative rates (also under the provisions of OMB Circular A-21 and OMB Uniform Guidance, where applicable). As described in Note 2, NYU, with the exception of NYU Langone Hospitals, does not use the 10% de-minimis indirect cost rate for sponsored programs.
De Minimis Rate Used: N
Rate Explanation: Facilities and Administrative Cost Rates The University had predetermined facilities and administrative cost rates for the fiscal year ended 2022, under a rate agreement with the Department of Health and Human Services (DHHS), the Universitys federal cognizant agency. The base rate for on-campus research was 60% for fiscal 2022. The base rate for off-campus research was 26% for fiscal 2022. NYUGSoM and NYU Long Island School of Medicine had predetermined facilities and administrative cost rates for the fiscal year ended 2022, under separate rate agreements with the DHHS, their federal cognizant agency. The NYUGSoM base rates for on-campus and off-campus research, respectively, were 69.5% and 26% for fiscal 2022. The NYU Long Island School of Medicine base rates for on-campus and off-campus research, respectively, were 54% and 17% for fiscal 2022.
administered by the Health Resources and Services Administration (HRSA) The Schedule includes grant activity related to the ALN 93.498. As required based on guidance in the 2022 OMB Compliance Supplement, the Schedule includes all Period 2 funds received between July 1, 2020 and December 31, 2020 and expended by December 31, 2021 as reported to HRSA via the PRF Reporting Portal. NYU Langone Health did not receive Period 3 funding.
Title: 6. Superstorm Sandy
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) presents the federal grant activity of NYU and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and therefore, some amounts may differ from amounts presented in, or used in the preparation of NYUs consolidated financial statements. Negative amounts represent adjustments or credits to amounts reported as expenditures in prior years arising out of the normal course of business. Assistance Listing Numbers (ALN) and pass-through numbers are provided when available. The research expenditures for direct costs are recognized using the cost accounting principles contained in OMB Circular A-21, Cost Principles for Educational Institutions, and OMB UniformGuidance, where applicable. Under those cost principles, certain types of expenditures are not allowed for reimbursement. In addition, expenditures include a portion of costs associated with general NYU activities (facilities and administrative) which are allocated to federal awards under negotiated formulas commonly referred to as facilities and administrative rates (also under the provisions of OMB Circular A-21 and OMB Uniform Guidance, where applicable). As described in Note 2, NYU, with the exception of NYU Langone Hospitals, does not use the 10% de-minimis indirect cost rate for sponsored programs.
De Minimis Rate Used: N
Rate Explanation: Facilities and Administrative Cost Rates The University had predetermined facilities and administrative cost rates for the fiscal year ended 2022, under a rate agreement with the Department of Health and Human Services (DHHS), the Universitys federal cognizant agency. The base rate for on-campus research was 60% for fiscal 2022. The base rate for off-campus research was 26% for fiscal 2022. NYUGSoM and NYU Long Island School of Medicine had predetermined facilities and administrative cost rates for the fiscal year ended 2022, under separate rate agreements with the DHHS, their federal cognizant agency. The NYUGSoM base rates for on-campus and off-campus research, respectively, were 69.5% and 26% for fiscal 2022. The NYU Long Island School of Medicine base rates for on-campus and off-campus research, respectively, were 54% and 17% for fiscal 2022.
As described in Note 2 to the accompanying consolidated financial statements, as a result of Superstorm Sandy, NYU Langone Health sustained widespread damage to the main campus facilities including NYU Langone Hospitals inpatient and outpatient facilities and the NYUGSoM research, faculty group clinical practice and education facilities, all of which were temporarily closed. Under Federal Emergency Management Agency (FEMA) regulations, NYU Langone Health qualified for funding as a private non-profit facility that supplies critical services to the community. For Superstorm Sandy, FEMA (through the U.S. Department of Homeland Security)reimburses eligible entities at 90% of all eligible costs awarded. In 2014, FEMA awarded NYU Langone Health a fixed, capped Public Assistance Grant (Capped Grant) totaling $1,088,252,436, which includes a reduction of $3,383,139 due to a commercial insurance claim recovery. The award is to be spent over a 9 year performance period for activities covered in the agreed upon scopes of work. The $1,088,252,436 will be subject to offset for futurecommercial insurance recoveries related to property damage. All reimbursement under the Capped Grant is passed through from New York State to the University, to NYU Langone Health. Included in the Schedule are $11,267,824 of NYU Langone Health expenditures under the Capped Grant. In 2013, NYU Langone Health received $179,394,000 of expedited funding under their initial FEMA Project Worksheet applications, which is separate funding from the FEMA Capped Grant. These Project Worksheets are subject to review and finalization by FEMA. The expenses associated with these Project Worksheets are included in the Schedule in the year the Project Worksheets are approved. Included in the Schedule are $745,508 of NYU Langone Health expenditures related tothese Project Worksheets.