Notes to SEFA
Accounting Policies: The accompanying supplementary schedule of expenditures of federal awards includes the federal award activity of University City Science Center and Subsidiaries for the year ended December 31, 2023.
The information has been prepared in accordance with the requirements of Title 2 U.S. Code of Federal Regulations ("CFR") Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance"). Because the schedule presents only a selected portion of the operations of
University City Science Center and Subsidiaries, it is not intended to present, and does not present, the financial position, changes in net assets, or cash flows of University City Science Center and Subsidiaries.
Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: University City Science Center elected to use a provisional indirect rate.