Notes to SEFA
Title: GENERAL
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting for expenditures. The cost principles contained in Subpart E - Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Foundation’s summary of significant accounting policies is presented in Note 1 of the Foundation’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Foundation uses a cost rate which is submitted for and approved on an annual basis.
The accompanying schedule of expenditures of federal awards presents the activity of all
federal financial assistance programs of Nevada Cancer Research Foundation, Inc. (the
“Foundation”). The reporting entity is defined in Note 1 to the basic financial statements.
All federal awards received directly from federal agencies as well as federal awards
passed-through other government agencies are included on the schedule of expenditures
of federal awards. 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 in net position or cash flows of the entity.
Title: BASIS OF ACCOUNTING
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting for expenditures. The cost principles contained in Subpart E - Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Foundation’s summary of significant accounting policies is presented in Note 1 of the Foundation’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Foundation uses a cost rate which is submitted for and approved on an annual basis.
The accompanying schedule of expenditures of federal awards is presented using the
accrual basis of accounting for expenditures. The cost principles contained in Subpart E -
Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not
allowable or are limited as to reimbursement. The Foundation’s summary of significant
accounting policies is presented in Note 1 of the Foundation’s basic financial statements.
Title: INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting for expenditures. The cost principles contained in Subpart E - Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Foundation’s summary of significant accounting policies is presented in Note 1 of the Foundation’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Foundation uses a cost rate which is submitted for and approved on an annual basis.
The Foundation has not elected to use the 10 percent de minimus indirect cost rate
allowed under the Uniform Guidance.
Title: NON-CASH ASSISTANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting for expenditures. The cost principles contained in Subpart E - Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Foundation’s summary of significant accounting policies is presented in Note 1 of the Foundation’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Foundation uses a cost rate which is submitted for and approved on an annual basis.
The Foundation did not received federal non-cash assistance during the period presented.