Notes to SEFA
Accounting Policies: NOTE 1BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) has been prepared on the accrual basis of accounting, and the schedule includes the federal grant activity of Bay Area Tumor Institute under programs of the federal government for the year ended August 31, 2022. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget (OMB) Uniform Guidance. Because the Schedule presents only a selected portion of the operations of Bay Area Tumor Institute, it is not intended to and does not present the financial position, change in net assets or cash flows of Bay Area Tumor Institute.NOTE 2SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are recognized following the cost principles contained in 2 CFR Part 200, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.NOTE 3SUBRECIPIENTSCertain funds are passed through to a subrecipient organization, The regents of the University of California on behalf of UCSF Benioff Children's Hospital Oakland, by the Institute. For the year ended August 31, 2022, expenditures incurred by the subrecipient and reimbursed by the Institute are $208,935 which is included in the Schedule under the federal CFDA number 93.399.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.