Title: (1) General
Accounting Policies: General
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of all
federal programs administered by The Nemours Foundation and Subsidiaries (Nemours). Awards received
directly from federal agencies, as well as those passed-through from other nonfederal agencies, are
included on the Schedule. The information is presented in accordance with the requirements of Title 2
U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles,
and Audit Requirements for Federal Awards. Therefore, some amounts presented may differ from amounts
presented in, or used in the preparation of, the combined financial statements. Federal awards are reported
in Nemours’ combined financial statements as grant and contribution revenue.
Basis of Accounting
Federal programs administered by Nemours are accounted for within Nemours’ operating funds. The
accompanying Schedule has been prepared on the same basis of accrual accounting as the combined
financial statements.
Contingencies
Grant monies received and disbursed by Nemours are for specific purposes and are subject to review by
the grantor agencies. Such audits may result in requests for reimbursement due to disallowed
expenditures. Based upon prior experience, Nemours does not believe that such disallowances, if any,
would have a material effect on the combined financial position, results of operations, or cash flows of
Nemours. Management is not aware of any material questioned or disallowed costs as a result of grant
audits in process or completed.
De Minimis Rate Used: N
Rate Explanation: Nemours received a negotiated indirect cost rate for federal awards; therefore, Nemours did not elect to
charge the de minimus rate of 10% for determining indirect cost amounts.
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of all
federal programs administered by The Nemours Foundation and Subsidiaries (Nemours). Awards received
directly from federal agencies, as well as those passed-through from other nonfederal agencies, are
included on the Schedule. The information is presented in accordance with the requirements of Title 2
U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles,
and Audit Requirements for Federal Awards. Therefore, some amounts presented may differ from amounts
presented in, or used in the preparation of, the combined financial statements. Federal awards are reported
in Nemours’ combined financial statements as grant and contribution revenue.
Title: (2) Basis of Accounting
Accounting Policies: General
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of all
federal programs administered by The Nemours Foundation and Subsidiaries (Nemours). Awards received
directly from federal agencies, as well as those passed-through from other nonfederal agencies, are
included on the Schedule. The information is presented in accordance with the requirements of Title 2
U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles,
and Audit Requirements for Federal Awards. Therefore, some amounts presented may differ from amounts
presented in, or used in the preparation of, the combined financial statements. Federal awards are reported
in Nemours’ combined financial statements as grant and contribution revenue.
Basis of Accounting
Federal programs administered by Nemours are accounted for within Nemours’ operating funds. The
accompanying Schedule has been prepared on the same basis of accrual accounting as the combined
financial statements.
Contingencies
Grant monies received and disbursed by Nemours are for specific purposes and are subject to review by
the grantor agencies. Such audits may result in requests for reimbursement due to disallowed
expenditures. Based upon prior experience, Nemours does not believe that such disallowances, if any,
would have a material effect on the combined financial position, results of operations, or cash flows of
Nemours. Management is not aware of any material questioned or disallowed costs as a result of grant
audits in process or completed.
De Minimis Rate Used: N
Rate Explanation: Nemours received a negotiated indirect cost rate for federal awards; therefore, Nemours did not elect to
charge the de minimus rate of 10% for determining indirect cost amounts.
Federal programs administered by Nemours are accounted for within Nemours’ operating funds. The
accompanying Schedule has been prepared on the same basis of accrual accounting as the combined
financial statements.
Title: (3) Contingencies
Accounting Policies: General
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of all
federal programs administered by The Nemours Foundation and Subsidiaries (Nemours). Awards received
directly from federal agencies, as well as those passed-through from other nonfederal agencies, are
included on the Schedule. The information is presented in accordance with the requirements of Title 2
U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles,
and Audit Requirements for Federal Awards. Therefore, some amounts presented may differ from amounts
presented in, or used in the preparation of, the combined financial statements. Federal awards are reported
in Nemours’ combined financial statements as grant and contribution revenue.
Basis of Accounting
Federal programs administered by Nemours are accounted for within Nemours’ operating funds. The
accompanying Schedule has been prepared on the same basis of accrual accounting as the combined
financial statements.
Contingencies
Grant monies received and disbursed by Nemours are for specific purposes and are subject to review by
the grantor agencies. Such audits may result in requests for reimbursement due to disallowed
expenditures. Based upon prior experience, Nemours does not believe that such disallowances, if any,
would have a material effect on the combined financial position, results of operations, or cash flows of
Nemours. Management is not aware of any material questioned or disallowed costs as a result of grant
audits in process or completed.
De Minimis Rate Used: N
Rate Explanation: Nemours received a negotiated indirect cost rate for federal awards; therefore, Nemours did not elect to
charge the de minimus rate of 10% for determining indirect cost amounts.
Grant monies received and disbursed by Nemours are for specific purposes and are subject to review by
the grantor agencies. Such audits may result in requests for reimbursement due to disallowed
expenditures. Based upon prior experience, Nemours does not believe that such disallowances, if any,
would have a material effect on the combined financial position, results of operations, or cash flows of
Nemours. Management is not aware of any material questioned or disallowed costs as a result of grant
audits in process or completed.
Title: (4) Indirect Cost Rate Election
Accounting Policies: General
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of all
federal programs administered by The Nemours Foundation and Subsidiaries (Nemours). Awards received
directly from federal agencies, as well as those passed-through from other nonfederal agencies, are
included on the Schedule. The information is presented in accordance with the requirements of Title 2
U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles,
and Audit Requirements for Federal Awards. Therefore, some amounts presented may differ from amounts
presented in, or used in the preparation of, the combined financial statements. Federal awards are reported
in Nemours’ combined financial statements as grant and contribution revenue.
Basis of Accounting
Federal programs administered by Nemours are accounted for within Nemours’ operating funds. The
accompanying Schedule has been prepared on the same basis of accrual accounting as the combined
financial statements.
Contingencies
Grant monies received and disbursed by Nemours are for specific purposes and are subject to review by
the grantor agencies. Such audits may result in requests for reimbursement due to disallowed
expenditures. Based upon prior experience, Nemours does not believe that such disallowances, if any,
would have a material effect on the combined financial position, results of operations, or cash flows of
Nemours. Management is not aware of any material questioned or disallowed costs as a result of grant
audits in process or completed.
De Minimis Rate Used: N
Rate Explanation: Nemours received a negotiated indirect cost rate for federal awards; therefore, Nemours did not elect to
charge the de minimus rate of 10% for determining indirect cost amounts.
Nemours received a negotiated indirect cost rate for federal awards; therefore, Nemours did not elect to
charge the de minimus rate of 10% for determining indirect cost amounts.