Notes to SEFA
Title: Note 1 - Basis of Presentation:
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following, as applicable, either the cost principles contained in OMB Circular A-122, Cost Principles
for Non-Profit Organizations or the cost principles contained in Uniform Guidance wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are
presented where available.
De Minimis Rate Used: N
Rate Explanation: The California Medical Innovations Institute has elected not to use the 10-percent de minimis indirect cost rate
as allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity
of the California Medical Innovations Institute under programs of the federal government for the year ended
December 31, 2023. 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). Because the Schedule presents only a selected portion
of the operations of the California Medical Innovations Institute, it is not intended to and does not present the
financial position, changes in net assets, or cash flows of the California Medical Innovations Institute.
Title: Note 2 - Summary of Significant Accounting Policies:
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following, as applicable, either the cost principles contained in OMB Circular A-122, Cost Principles
for Non-Profit Organizations or the cost principles contained in Uniform Guidance wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are
presented where available.
De Minimis Rate Used: N
Rate Explanation: The California Medical Innovations Institute has elected not to use the 10-percent de minimis indirect cost rate
as allowed under Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following, as applicable, either the cost principles contained in OMB Circular A-122, Cost Principles
for Non-Profit Organizations or the cost principles contained in Uniform Guidance wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are
presented where available.
The California Medical Innovations Institute has elected not to use the 10-percent de minimis indirect cost rate
as allowed under Uniform Guidance.