Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expeditures of federal awards (the "Schedule") includes the federal grant activity of Rensselaer Polytechnic Institute and its affiliates (“Rensselaer”) for the year ended June 30, 2023 and is presented on the accrual basis of accounting. The information in this 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 this Schedule may differ from amounts presented in, or used in, the preparation of the basic consolidated financial statements. Negative amounts represent adjustments to amounts reported in prior years in the normal course of business. Assistance listing and pass-through identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Facilities and administrative costs are charged to federal grants and contracts at predetermined federally approved rates. Rensselaer has elected not to use the 10 percent deminimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Rensselaer Polytechnic Institute and its affiliates (“Rensselaer”) for the year ended June 30, 2023 and is presented on the accrual basis of accounting. The information in this 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 this Schedule may differ from amounts presented in, or used in, the preparation of the basic consolidated financial statements. Negative amounts represent adjustments to amounts reported in prior years in the normal course of business. Assistance listing and pass-through identifying numbers are presented where available.
Title: Federal Direct Loan Program (Assistance Lising 84.268)
Accounting Policies: The accompanying schedule of expeditures of federal awards (the "Schedule") includes the federal grant activity of Rensselaer Polytechnic Institute and its affiliates (“Rensselaer”) for the year ended June 30, 2023 and is presented on the accrual basis of accounting. The information in this 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 this Schedule may differ from amounts presented in, or used in, the preparation of the basic consolidated financial statements. Negative amounts represent adjustments to amounts reported in prior years in the normal course of business. Assistance listing and pass-through identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Facilities and administrative costs are charged to federal grants and contracts at predetermined federally approved rates. Rensselaer has elected not to use the 10 percent deminimis indirect cost rate allowed under the Uniform Guidance.
Rensselaer is a full participant in the Federal Direct Student Loans Program, processing student loan applications, including subsidized/unsubsidized Direct loans, undergraduate/graduate PLUS loans, via the U.S. Department of Education. The lender for these federally guaranteed loans is the U.S. Department of Education. The current year disbursements under the program are included in the Schedule.
Title: Federal Perkins Loan Program (Assistance Listing 84.038)
Accounting Policies: The accompanying schedule of expeditures of federal awards (the "Schedule") includes the federal grant activity of Rensselaer Polytechnic Institute and its affiliates (“Rensselaer”) for the year ended June 30, 2023 and is presented on the accrual basis of accounting. The information in this 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 this Schedule may differ from amounts presented in, or used in, the preparation of the basic consolidated financial statements. Negative amounts represent adjustments to amounts reported in prior years in the normal course of business. Assistance listing and pass-through identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Facilities and administrative costs are charged to federal grants and contracts at predetermined federally approved rates. Rensselaer has elected not to use the 10 percent deminimis indirect cost rate allowed under the Uniform Guidance.
The outstanding balance of loans under the Federal Perkins Loan Program was $6,747 at June 30, 2023.
Title: Federal Emergency Management Agency (“FEMA”) Public Assistance (Assistance Listing 97.036)
Accounting Policies: The accompanying schedule of expeditures of federal awards (the "Schedule") includes the federal grant activity of Rensselaer Polytechnic Institute and its affiliates (“Rensselaer”) for the year ended June 30, 2023 and is presented on the accrual basis of accounting. The information in this 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 this Schedule may differ from amounts presented in, or used in, the preparation of the basic consolidated financial statements. Negative amounts represent adjustments to amounts reported in prior years in the normal course of business. Assistance listing and pass-through identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Facilities and administrative costs are charged to federal grants and contracts at predetermined federally approved rates. Rensselaer has elected not to use the 10 percent deminimis indirect cost rate allowed under the Uniform Guidance.
Rensselaer applied for reimbursement of certain expenses related to the COVID-19 pandemic and other weather-related incidents under Assistance Listing #97.036, FEMA Public Assistance through New York State. Expenditures under this program are reflected in the Schedule in the year in which a project application is obligated. The Schedule includes $2,771 of expenditures incurred in fiscal years 2021 and 2022. $620 of these expenditures were obligated in fiscal year 2022 and, therefore, should have been included in the 2022 Schedule. The total expenditures included in the 2023 Schedule represent a reconciling item between the federal expenses in Rensselaer’s financial statements and the amount included on the Schedule.
Title: Facilities and Administrative Costs
Accounting Policies: The accompanying schedule of expeditures of federal awards (the "Schedule") includes the federal grant activity of Rensselaer Polytechnic Institute and its affiliates (“Rensselaer”) for the year ended June 30, 2023 and is presented on the accrual basis of accounting. The information in this 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 this Schedule may differ from amounts presented in, or used in, the preparation of the basic consolidated financial statements. Negative amounts represent adjustments to amounts reported in prior years in the normal course of business. Assistance listing and pass-through identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Facilities and administrative costs are charged to federal grants and contracts at predetermined federally approved rates. Rensselaer has elected not to use the 10 percent deminimis indirect cost rate allowed under the Uniform Guidance.
Facilities and administrative costs are charged to federal grants and contracts at predetermined federally approved rates. Rensselaer has elected not to use the 10 percent deminimis indirect cost rate allowed under the Uniform Guidance.