Notes to SEFA
Title: Basis of Presentation
Accounting Policies: 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, if any, represent adjustments or credits made in the normal course of business to amounts
reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Center uses the indirect cost rate agreed upon with the federal grantor
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award
activity of the New York Genome Center, Inc. (the Center) 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 Award (Uniform Guidance). Because the Schedule
presents only a selected portion of the operations of the Center, it is not intended to and does not present
the financial position, changes in net assets, or cash flows of the Center.
Title: 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 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, if any, represent adjustments or credits made in the normal course of business to amounts
reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Center uses the indirect cost rate agreed upon with the federal grantor
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, if any, represent adjustments or credits made in the normal course of business to amounts
reported as expenditures in prior years.
Title: Indirect Cost Rate
Accounting Policies: 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, if any, represent adjustments or credits made in the normal course of business to amounts
reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Center uses the indirect cost rate agreed upon with the federal grantor
The Center uses the indirect cost rate agreed upon with the federal grantor.