Notes to SEFA
Basis of Presentation - The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of California Institute of Integral Studies under programs of the federal government 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 California Institute of Integral Studies, it is not intended to and does not present the financial position, changes in net assets, or cash flows of California Institute of Integral Studies.
Summary of Significant Accounting Policies. 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.
Relationship to Federal Financial Reports - Amounts reported in the Schedule agree in all material respects with the amounts reported in the related federal financial reports.