Title: Basis of Accounting
Accounting Policies: The accompanying supplementary schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Emory University and its subsidiaries (the University) and is presented on the accrual basis of accounting. The Schedule presents all grants, contracts, and similar agreements entered into directly between agencies and departments of the federal government and subawards to the University from nonfederal organizations pursuant to federal grants, contracts, and similar agreements. The Schedule also presents awards passed through from the University to other nonfederal subrecipient organizations.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). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements.The accompanying supplementary schedule of cash receipts and expenditures of State of Georgia awards includes expenditures incurred by the University and grant revenues received from State of Georgia agencies under various state contracts. Negative balances represent programs with unfunded expenditures prior to normal closeout procedures, which were subsequently transferred to unrestricted cost centers.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures for federal student financial assistance programs are recognized as incurred and include grants to students under the Federal Pell Grant and Federal Supplemental Educational Opportunity Grant Programs, student earnings under the Federal Work Study Program, and administrative cost allowances, where applicable. Expenditures for loans related to the Federal Direct Student Loan Programs (FDSLP) arereported in the Schedule when disbursed.New loans made during the fiscal year and loans from previous fiscal years for which the University has continuing compliance requirements to adhere to related to the Federal Perkins Loan Program are reported in the Schedule. Expenditures for other federal awards are recognized as incurred using the cost accounting principles contained in Uniform Guidance. Under these cost principles, certain types ofexpenses are not allowable or are limited as to reimbursement.COVID-19 Health Resources and Services Administration (HRSA) COVID-19 Claims Reimbursement for the Uninsured Program and the COVID-19 Coverage Assistance Fund (AL # 93.461) includes reimbursements for health care services rendered during the year ended August 31, 2022.COVID-19 Provider Relief Fund (PRF) and American Rescue Plan (ARP) Rural Distribution (AL # 93.498)includes reimbursements for lost revenues during the period from July 1, 2020 to June 30, 2021, based upon the PRF report that is required to be submitted to the HRSA reporting portal.
Title: Federal Loan Programs
Accounting Policies: The accompanying supplementary schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Emory University and its subsidiaries (the University) and is presented on the accrual basis of accounting. The Schedule presents all grants, contracts, and similar agreements entered into directly between agencies and departments of the federal government and subawards to the University from nonfederal organizations pursuant to federal grants, contracts, and similar agreements. The Schedule also presents awards passed through from the University to other nonfederal subrecipient organizations.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). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements.The accompanying supplementary schedule of cash receipts and expenditures of State of Georgia awards includes expenditures incurred by the University and grant revenues received from State of Georgia agencies under various state contracts. Negative balances represent programs with unfunded expenditures prior to normal closeout procedures, which were subsequently transferred to unrestricted cost centers.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Most federal financial assistance is in the form of cash awards. However, there are a number of federal programs that do not involve cash transactions with the University. These noncash transactions in which the University obtains other assistance are the FDSLP and revolving loan programs, such as the Federal Perkins Loan Program.The loans advanced and related expenditures are as follows for the various student loan programs: AL # AmountFederal Direct Student Loan Programs: Student loans advanced: Subsidized Stafford Loan Program 84.268 $ 6,182,201 Unsubsidized Stafford Loan Program 84.268 85,677,252 Total Direct Stafford Loan Program 91,859,453 Federal Direct PLUS Loan Program 84.268 73,990,885 Total Federal Direct Student Loan Programs $ 165,850,338The Federal Perkins (Perkins) and Nurse Faculty and Student Loan Programs (Nursing) are administered directly by the University, and balances and transactions relating to these programs are included in the Universitys consolidated financial statements. The amounts presented on the Schedule include the Federal Perkins and Nurse Loans outstanding as of August 31, 2021. Perkins and Nursing loans outstanding at August 31, 2022 totaled $2,940,607 and $1,482,916, respectively. No Perkins loans wereissued and $281,477 Nursing loans were issued during the year ended August 31, 2022.The University is responsible for the performance of certain administrative duties with respect to the FDSLP. It is not practicable to determine the balance of loans outstanding to students and former students of the University under this program as of August 31, 2022. These loans are not included in the Universitys consolidated financial statements.
Title: Matching
Accounting Policies: The accompanying supplementary schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Emory University and its subsidiaries (the University) and is presented on the accrual basis of accounting. The Schedule presents all grants, contracts, and similar agreements entered into directly between agencies and departments of the federal government and subawards to the University from nonfederal organizations pursuant to federal grants, contracts, and similar agreements. The Schedule also presents awards passed through from the University to other nonfederal subrecipient organizations.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). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements.The accompanying supplementary schedule of cash receipts and expenditures of State of Georgia awards includes expenditures incurred by the University and grant revenues received from State of Georgia agencies under various state contracts. Negative balances represent programs with unfunded expenditures prior to normal closeout procedures, which were subsequently transferred to unrestricted cost centers.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Under the Federal Supplemental Educational Opportunity Grant Program, the University matched $428,761 in funds awarded to students for the year ended August 31, 2022 in addition to the federal share of expenditures included in the Schedule.Under the Federal Work Study Program, the University matched $502,812 in total compensation to students for the year ended August 31, 2022 in addition to the federal share of expenditures included in the Schedule.
Title: Administrative Cost Allowance
Accounting Policies: The accompanying supplementary schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Emory University and its subsidiaries (the University) and is presented on the accrual basis of accounting. The Schedule presents all grants, contracts, and similar agreements entered into directly between agencies and departments of the federal government and subawards to the University from nonfederal organizations pursuant to federal grants, contracts, and similar agreements. The Schedule also presents awards passed through from the University to other nonfederal subrecipient organizations.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). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements.The accompanying supplementary schedule of cash receipts and expenditures of State of Georgia awards includes expenditures incurred by the University and grant revenues received from State of Georgia agencies under various state contracts. Negative balances represent programs with unfunded expenditures prior to normal closeout procedures, which were subsequently transferred to unrestricted cost centers.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The University recorded an administrative cost allowance of $125,703 for the year ended August 31, 2022. This amount is included in the Schedule as federal expenditures under the Federal Work Study Program.