Audit 344947

Accounting Policies: Note A - Accounting Policies: The accompanying schedule of expenditures of federal (the "Schedule") is prepared on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-122, Federal cost principles applicable to for-profit entities, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Oak Ridge Associated Universities operates under federal cost principles applicable to for-profit entities due to its size and nature of operations. The expenditure threshold for classification as a Type A program excluding ORISE (as discussed in Note B below) is $1,644,535. The expenditure threshold for classification as a Type A program including ORISE is $3,000,000. The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. There were no awards passed through to subrecipients. Note B - Oak Ridge Institute for Science and Education: Represents the total reimbursable operating expenses and capital expenditures of Oak Ridge Institute for Science and Education. As an integrated contractor, Oak Ridge Associated Universities, Incorporated discloses the gross activity of the managed operations on the consolidated statement of activities and changes in net assets which nets to the management fee earned in the performance of the contract. The contract requires that the provisions of the Uniform Guidance apply to the contract. Note C - No specific Federal Assistance Listing Number number assigned. Note D - Uniform Guidance: The Schedule includes the federal award activity of Oak Ridge Associated Universities, Incorporated under programs of the federal government for the year ended September 30, 2024. 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 Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Oak Ridge Associated Universities, Incorporated, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Oak Ridge Associated Universities, Incorporated. Note E - The Organization did not receive or expend any federal awards during fiscal year 2024 in the form of non-cash assistance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.