Notes to SEFA
The accompanying schedule of expenditures of federal awards (schedule) includes the federal award activity of CompDrug, Inc. (CompDrug) 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). Since the schedule presents only a selected portion of the operations of CompDrug, it is not intended to and does not present the financial position, change in net assets or cash flows of CompDrug.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such 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.
CompDrug has elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.