Notes to SEFA
Title: General
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are present where available.
De Minimis Rate Used: N
Rate Explanation: The Foundation 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”) presents the activities of all federal awards of the Foundation received directly from federal agencies as well as passed through other government agencies 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 position of the operations of the Foundation, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Foundation.
Title: Summary of Significant Accounting Policies
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are present where available.
De Minimis Rate Used: N
Rate Explanation: The Foundation has elected not to use the 10-percent de-minimis indirect cost rate allowed under the Uniform Guidance.
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.
Title: Indirect Cost Rate
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are present where available.
De Minimis Rate Used: N
Rate Explanation: The Foundation has elected not to use the 10-percent de-minimis indirect cost rate allowed under the Uniform Guidance.
The Foundation has elected not to use the 10-percent de-minimis indirect cost rate allowed under the Uniform Guidance.