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.
De Minimis Rate Used: N
Rate Explanation: The Portland VA Research Foundation applies its negotiated indirect cost rate when charging indirect costs to federal awards, and therefore did not elect to use the ten-percent de minimis cost rate or fifteen-percent de minimis cost rate after October 1, 2024, as described in Section 200.414 of the Uniform Guidance.
The accompany schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the Portland VA Research Foundation under programs of the federal government for the year ended December 31, 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the Portland VA Research Foundation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Portland VA Research Foundation. For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between the Portland VA Research Foundation and agencies and departments of the federal government and all sub-awards to the organization by non-federal organizations pursuant to federal grants, contracts and similar agreements.
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.
De Minimis Rate Used: N
Rate Explanation: The Portland VA Research Foundation applies its negotiated indirect cost rate when charging indirect costs to federal awards, and therefore did not elect to use the ten-percent de minimis cost rate or fifteen-percent de minimis cost rate after October 1, 2024, as described in Section 200.414 of the Uniform Guidance.
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.
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.
De Minimis Rate Used: N
Rate Explanation: The Portland VA Research Foundation applies its negotiated indirect cost rate when charging indirect costs to federal awards, and therefore did not elect to use the ten-percent de minimis cost rate or fifteen-percent de minimis cost rate after October 1, 2024, as described in Section 200.414 of the Uniform Guidance.
The Portland VA Research Foundation elected not to use the 10 percent de minimis indirect cost rate or 15% after October 1, 2024, as allowed under the Uniform Guidance.