Notes to SEFA
Title: Note 1 Basis of Presentation
Accounting Policies: Note 2 Summary of Significant Accounting Policies Expenditures reported in the Schedule are reported on the accrual basis of accounting. See Note B of the notes to the financial statements for Moncriefs significant accounting policies. These expenditures are reported on Moncriefs fiscal year, which is from September 1, 2021 to August 31, 2022. Expenditure reports to funding agencies are prepared based on award periods. Such expenditures are recognized following the cost principles in the Uniform Guidance and TXGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Moncrief has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. See note above, last sentence.
The accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal and state grant activity of UT Southwestern Moncrief Cancer Center (Moncrief) under programs of the federal and state government for the year ended August 31, 2022. The information in this schedule is presented in accordance with the requirements of Office of Budget (OMB) Uniform Guidance (Uniform Guidance) and State of Texas Grant Management Standards (TXGMS). Because the Schedule presents only a selected portion of the operations of Moncrief, it is not intended to, and does not present the net position, changes in net position, or cash flows of Moncrief.
Title: Note 3 Relationship to the Basic Financial Statements
Accounting Policies: Note 2 Summary of Significant Accounting Policies Expenditures reported in the Schedule are reported on the accrual basis of accounting. See Note B of the notes to the financial statements for Moncriefs significant accounting policies. These expenditures are reported on Moncriefs fiscal year, which is from September 1, 2021 to August 31, 2022. Expenditure reports to funding agencies are prepared based on award periods. Such expenditures are recognized following the cost principles in the Uniform Guidance and TXGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Moncrief has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. See note above, last sentence.
Federal and state awards revenues are reported in Moncriefs basic financial statements as follows: see the notes to the sefa for chart/table.