Notes to SEFA
Title: Note 1
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the
Uniform Guidance, Cost Principles for Non-Profit Organizations wherein certain
types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Wellmore has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Wellmore, Inc. (Wellmore) under programs of the federal government for the year ended June 30, 2023. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Wellmore, Inc., it is not intended to and does not present the financial position,
changes in net assets or cash flows of Wellmore.
Title: Note 2
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the
Uniform Guidance, Cost Principles for Non-Profit Organizations wherein certain
types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Wellmore has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform
Guidance, Cost Principles for Non-Profit Organizations wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
Title: Note 3
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the
Uniform Guidance, Cost Principles for Non-Profit Organizations wherein certain
types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Wellmore has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
Wellmore has elected not to use the 10% de minimis indirect cost rate allowed under
the
Uniform Guidance.