Notes to SEFA
Title: Non-Cash Assistance
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Albany Research Institute, Inc. (the Organization) and is prepared on the accrual basis of accounting.
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). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has agreed upon indirect cost rates with the Department of Health and Human Services through December 31, 2023, ranging from 18%-36%. The Organization did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization had no non-cash assistance reported in the Schedule of Expenditures of Federal Awards as of December 31, 2022.
Title: Federal Loans and Loan Guarentees
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Albany Research Institute, Inc. (the Organization) and is prepared on the accrual basis of accounting.
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). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has agreed upon indirect cost rates with the Department of Health and Human Services through December 31, 2023, ranging from 18%-36%. The Organization did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization had no federal loans or loan guarantees outstanding as of December 31, 2022.
Title: Insurance
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Albany Research Institute, Inc. (the Organization) and is prepared on the accrual basis of accounting.
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). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has agreed upon indirect cost rates with the Department of Health and Human Services through December 31, 2023, ranging from 18%-36%. The Organization did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization did not participate in any federal insurance programs for the year ended December 31, 2022.