Audit 320883

Title: Note 1 ‐ Basis of Presentation Accounting Policies: Note 2 ‐ Summary of Significant Accounting Policies In accordance with generally accepted accounting principles, the Foundation accounts for all awards under federal programs on an accrual basis of accounting and, accordingly, reflects all significant receivables, payables, and other liabilities. Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant. When such funds are advanced to the Foundation, they are recorded as deferred revenues until earned. Otherwise, federal grant funds are received on a reimbursement basis from the respective federal program agencies. Generally, unused balances are returned to the grantor at the close of specified project periods. Expenditures reported on the Schedule 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass‐through entity identifying numbers are presented where available. The Foundation has elected not to use the 10‐percent de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: See Note 2, last paragraph, last sentence. The accompanying schedule of expenditures of federal awards (the “schedule”) includes the federal grant activity of Caris Foundation International (the “Foundation”) 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 the Office of Management and Budget (OMB) 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 Foundation, it is not intended to and does not present the financial position, changes net assets or cash flows of the Foundation.