Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of San José State University Research Foundation (the Foundation) under programs of the federal government for the year ended June 30, 2025. The information in the Schedule is presented in accordance with the requirements of the U.S. Office 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 Foundation, it is not intended to and does not present the net position, revenues, expenses, and changes in net position, or cash flows of the Foundation.
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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
The Foundation did not elect to use the 10% de minimis cost as covered in 2 CFR 200.414 - Indirect costs allowed under the Uniform Guidance. The rates used to charge projects are approved by the U.S. Department of Health and Human Services and range from 25% to 46.5% for on-campus programs, and 26.0% for off-campus programs. Some programs have special negotiated rates which are below this range. This revenue is recorded with the related federal, state, local, and nongovernmental grants, and contracts revenue on the statement of revenues, expenses, and changes in net position.