Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of all federal programs administered by The Nemours Foundation and Subsidiaries (Nemours). Awards received directly from federal agencies, as well as those passed-through from other nonfederal agencies, are included on the Schedule. The information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented may differ from amounts presented in, or used in the preparation of, the combined financial statements. Federal awards are reported in Nemours’ combined financial statements as grant and contribution revenue.
Federal programs administered by Nemours are accounted for within Nemours’ operating funds. The accompanying Schedule has been prepared on the same basis of accrual accounting as the combined financial statements.
Grant monies received and disbursed by Nemours are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon prior experience, Nemours does not believe that such disallowances, if any, would have a material effect on the combined financial position, results of operations, or cash flows of Nemours. Management is not aware of any material questioned or disallowed costs as a result of grant audits in process or completed.
Nemours received a negotiated indirect cost rate for federal awards; therefore, Nemours did not elect to charge the de minimus rate for determining indirect cost amounts.