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, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: NYSCI has elected not to use the 10-percent 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 New York Hall of Science (“NYSCI”) under programs of the federal government for the year ended June 30, 2023. 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 NYSCI, it is not intended to and does not represent the financial position, changes in net assets, or cash flows of NYSCI.
Title: Other Matter
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: NYSCI has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
In accordance with the 2023 OMB Compliance Supplement, eligibly expenditures under Federal Assistance Listing Number 97.036 incurred by NYSCI during the years ended 2022, 2021, and 2020, and approved for payment by FEMA during the year ended June 30, 2023, should be included on NYSCI’s 2023 Schedule.
Accordingly, total U.S. Department of Homeland Security federal expenditures for the year ended June 30, 2023 include $806,122 of eligible expenditures incurred during the year ended June 30, 2022.