Notes to SEFA
Title: BASIS OF PRESENTATION
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, WEHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT. PASS-THROUGH ENTITY IDENTIFYING NUMBERS ARE PRESENTED, IF APPLICABLE.
De Minimis Rate Used: N
Rate Explanation: EXPENDITURES INCLUDE INDIRECT COSTS, WHICH ARE ALLOCATED TO DIRECT COSTS OBJECTIVES BASED ON A NEGOTIATED FORMULA WITH THE EXPLORATORIUM'S COGNIZANT FEDERAL AGENCY, THE NATIONAL SCIENCE FOUNDATION. THE EXPLORATORIUM DID NOT ELECT TO USE THE 10% DE MINIMUS COST AS COVERED IN 200.414 INDIRECT COSTS OF THE UNIFORM GUIDANCE.
THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (THE SCHEDULE) INCLUDES FEDERAL AWARD ACTIVITY OF THE EXPLORATORIUM UNDER PROGRAMS OF THE FEDERAL GOVERNMENT FOR THE YEAR ENDED JUNE 30, 2022. 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). BECAUSE THE SCHEDULE PRESENTS ONLY A SELECTED PORTION OF THE OPERATIONS OF THE EXPLORATORIUM, IT IS NOT INTENDED TO AND DOES NOT PRESENT THE FINANCIAL POSITION, CHANGE IN NET ASSETS OR CASH FLOWS OF THE EXPLORATORIUM.