Notes to SEFA
Title: Note 1 – Basis of Presentation
Accounting Policies: Note 2 – Summary of Significant 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 allowed or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Note 3 – De Minimis Indirect Cost Rate
San Diego Blood Bank elected to use the 10% de minimus cost rate as covered in the Uniform Guidance 2 CFR section 200.414 indirect costs.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the San Diego Blood Bank for the year ended June 30, 2024. The information in the 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). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in, the preparation of the financial statements.
Because the Schedule presents only a selected portion of the operations of the San Diego Blood Bank, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the San Diego Blood Bank.