Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the combined federal award activity of Discovery Health Sciences Foundation, Inc. (Discovery), Discovery Ochsner Baton Rouge (BROD), Friends of Discovery Health Sciences Foundation, Inc. (Friends), and Friends of Discovery Ochsner Baton Rouge (Friends of BROD), collectively the Organization, for the year ended June 30, 2025. 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. The Organization’s reporting entity is defined in Note 1 to the combined financial statements for the year ended June 30, 2025.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this Schedule may differ from amounts presented, or used in the preparation of, the basic combined financial statements.
Federal revenues of $3,780,095 are included in Revenues and Support on the Combined Statement of Activities.
Amounts reported in the Schedule agree with the amounts reported in the related federal financial reports.
During the year ended June 30, 2025, the Organization did not include any expenditures related to indirect cost rate calculations and did not elect to use the 10-percent de minimis indirect cost rate as allowed in the Uniform Guidance.
The Organization did not pass through any federal funds to subrecipients.