Audit 403804

Basis of Presentation: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) presents the expenditures of all federal awards of Nevada Health and Bioscience Asset Corporation (the Organization) for the year ended December 31, 2025 and is presented on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. 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. Expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization has elected not to charge indirect costs to its federal awards. Accordingly, no indirect cost rate has been negotiated with a federal cognizant agency, nor has the Organization elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.