Notes to SEFA
Title: 2. EXPENDITURES OF FEDERAL REVENUE
Accounting Policies: 1. BASIS OF PRESENTATION: The accompanying Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: 3. INDIRECT COSTS: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports for each program. The Foundation charges indirect costs to its contracts using the current provisional rate effective from July 1, 2022 through June 30, 2023. The Foundation has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The amounts reported as expenditures of federal awards were obtained from the accounting records utilized to record activity for the applicable program and periods. These accounting records are periodically reconciled to the appropriate federal financial reports for each program.
Title: 4. MATCHING COSTS
Accounting Policies: 1. BASIS OF PRESENTATION: The accompanying Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: 3. INDIRECT COSTS: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports for each program. The Foundation charges indirect costs to its contracts using the current provisional rate effective from July 1, 2022 through June 30, 2023. The Foundation has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Matching costs, i.e., the Foundation’s share of certain program costs, are not included in the reported expenditures.