Notes to SEFA
Accounting Policies: 1.The purpose of the Schedule of Expenditures of Federal Awards (the Schedule) is to present a summary of the activities of Oklahoma Medical Research Foundation (the Foundation) for the year ended June 30, 2022, which have been financed by the U.S. Government.For purposes of the schedule, federal awards have been classified into two types:?Direct federal awards consisting of federal assistance; and?Pass-through funds received from non-federal organizations made under federally sponsored programs conducted by those organizations.The Schedule is prepared on the cash basis of accounting. Expenditures are recognized when paid.Federal awards provided to subrecipient are treated as expenditures when they are paid to the subrecipient.2.Assistance Listing Numbers (ALN) are presented for those programs for which such numbers were available.3.Federal direct programs are presented by federal department and, where applicable, the funding agency within the department. Federal pass through programs are presented by the entity through which the Foundation received the federal award. Amounts provided to subrecipient from each federal program have been separately identified for additional analysis. These awards are included in total cash basis expenditures.4.The Foundation has a federally negotiated indirect cost rate and therefore elected not to use the 10% de minimis indirect cost rate as covered in 2 CFR ?200.414.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.