Notes to SEFA
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.
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.
The Foundation has not elected to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.
The Foundation did not receive federal non-cash assistance during the period presented.