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 to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Pathfinders RC&D, Inc. opted not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Pathfinders RC&D, Inc. 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 Pathfinders RC&D, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Pathfinders RC&D, Inc.
Title: Subrecipients
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 to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Pathfinders RC&D, Inc. opted not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance
There were $1,143,042 of awards passed through to subrecipients. $873,042 of subrecipient funds were passed through to Indian Hills Community College. $270,000 were passed through to several subrecipients involved in various reclamation projects.