Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Oklahoma Dental Foundation (ODF) 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 (“Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the ODF, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the ODF.
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. The ODF does not have an approved indirect cost rate and chose to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The ODF has evaluated the effects of all subsequent events through the date of the Independent Auditors’ Report, which is the date the Schedule was available to be issued, for potential recognition or disclosure in this Schedule. The ODF is not aware of any subsequent events which would require recognition or disclosure in the Schedule.