Audit 321392

Title: GENERAL INFORMATION Accounting Policies: 1. GENERAL INFORMATION The accompanying schedule of expenditures of federal awards presents the activities in all the federal financial assistance programs of the Organization of Teratology Information Specialists. All financial assistance received directly from federal agencies as well as federal financial assistance passed through other governmental agencies or nonprofit organizations are included on the schedule. 2. BASIS OF ACCOUNTING The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. The amounts reported in this schedule as expenditures may differ from certain financial reports submitted to federal funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting. 3. RELATIONSHIP TO BASIC FINANCIAL STATEMENTS Federal awards expenditures are reported in the statements of activities and functional expenses. In certain programs, the expenditures reported in the basic financial statements may differ from the expenditures reported in the schedule of expenditures of federal awards due to program expenditures exceeding grant or contract budget limitations which are not included as federal awards. 4. INDIRECT COSTS The Organization of Teratology Information Specialists has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Organization of Teratology Information Specialists has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards presents the activities in all the federal financial assistance programs of the Organization of Teratology Information Specialists. All financial assistance received directly from federal agencies as well as federal financial assistance passed through other governmental agencies or nonprofit organizations are included on the schedule.

Title: BASIS OF ACCOUNTING Accounting Policies: 1. GENERAL INFORMATION The accompanying schedule of expenditures of federal awards presents the activities in all the federal financial assistance programs of the Organization of Teratology Information Specialists. All financial assistance received directly from federal agencies as well as federal financial assistance passed through other governmental agencies or nonprofit organizations are included on the schedule. 2. BASIS OF ACCOUNTING The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. The amounts reported in this schedule as expenditures may differ from certain financial reports submitted to federal funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting. 3. RELATIONSHIP TO BASIC FINANCIAL STATEMENTS Federal awards expenditures are reported in the statements of activities and functional expenses. In certain programs, the expenditures reported in the basic financial statements may differ from the expenditures reported in the schedule of expenditures of federal awards due to program expenditures exceeding grant or contract budget limitations which are not included as federal awards. 4. INDIRECT COSTS The Organization of Teratology Information Specialists has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Organization of Teratology Information Specialists has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. The amounts reported in this schedule as expenditures may differ from certain financial reports submitted to federal funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.

Title: RELATIONSHIP TO BASIC FINANCIAL STATEMENTS Accounting Policies: 1. GENERAL INFORMATION The accompanying schedule of expenditures of federal awards presents the activities in all the federal financial assistance programs of the Organization of Teratology Information Specialists. All financial assistance received directly from federal agencies as well as federal financial assistance passed through other governmental agencies or nonprofit organizations are included on the schedule. 2. BASIS OF ACCOUNTING The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. The amounts reported in this schedule as expenditures may differ from certain financial reports submitted to federal funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting. 3. RELATIONSHIP TO BASIC FINANCIAL STATEMENTS Federal awards expenditures are reported in the statements of activities and functional expenses. In certain programs, the expenditures reported in the basic financial statements may differ from the expenditures reported in the schedule of expenditures of federal awards due to program expenditures exceeding grant or contract budget limitations which are not included as federal awards. 4. INDIRECT COSTS The Organization of Teratology Information Specialists has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Organization of Teratology Information Specialists has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Federal awards expenditures are reported in the statements of activities and functional expenses. In certain programs, the expenditures reported in the basic financial statements may differ from the expenditures reported in the schedule of expenditures of federal awards due to program expenditures exceeding grant or contract budget limitations which are not included as federal awards.

Title: INDIRECT COSTS Accounting Policies: 1. GENERAL INFORMATION The accompanying schedule of expenditures of federal awards presents the activities in all the federal financial assistance programs of the Organization of Teratology Information Specialists. All financial assistance received directly from federal agencies as well as federal financial assistance passed through other governmental agencies or nonprofit organizations are included on the schedule. 2. BASIS OF ACCOUNTING The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. The amounts reported in this schedule as expenditures may differ from certain financial reports submitted to federal funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting. 3. RELATIONSHIP TO BASIC FINANCIAL STATEMENTS Federal awards expenditures are reported in the statements of activities and functional expenses. In certain programs, the expenditures reported in the basic financial statements may differ from the expenditures reported in the schedule of expenditures of federal awards due to program expenditures exceeding grant or contract budget limitations which are not included as federal awards. 4. INDIRECT COSTS The Organization of Teratology Information Specialists has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Organization of Teratology Information Specialists has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The Organization of Teratology Information Specialists has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.