Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award activity of the Institute under the programs of the federal government for the year ended December 31, 2022. The information in the SEFA 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 SEFA presented only a selected portion of the operations of the Institute, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Institute. Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, when certain types of expenditures are not allowable or are limited as to reimbursement. For new awards or modifications of existing awards after December 26, 2014, the expenditures follow the cost principles contained in OMB Circular A-122, Cost Principles for Nonprofit Organizations. The cost principles indicate that certain types of expenditures are not allowable or reimbursements of allowable costs are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.