Title: BASIS OF PRESENTATION
Accounting Policies: BASIS OF PRESENTATION: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Simeanna III, Inc. under programs of the federal government for the year ended December 31, 2023. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 Simeanna III, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Simeanna III, Inc.
De Minimis Rate Used: Y
Rate Explanation: Simeanna III, Inc. has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Simeanna III, Inc. under programs of the federal government for the year ended December 31, 2023. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 Simeanna III, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Simeanna III, Inc.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: BASIS OF PRESENTATION: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Simeanna III, Inc. under programs of the federal government for the year ended December 31, 2023. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 Simeanna III, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Simeanna III, Inc.
De Minimis Rate Used: Y
Rate Explanation: Simeanna III, Inc. has elected to use the 10-percent de minimis indirect cost rate as 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: SUBRECIPIENTS
Accounting Policies: BASIS OF PRESENTATION: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Simeanna III, Inc. under programs of the federal government for the year ended December 31, 2023. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 Simeanna III, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Simeanna III, Inc.
De Minimis Rate Used: Y
Rate Explanation: Simeanna III, Inc. has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Of the federal expenditures presented in the Schedule, the Project did not provide federal awards to subrecipients during the year ended December 31, 2023.
Title: INDIRECT COST RATE
Accounting Policies: BASIS OF PRESENTATION: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Simeanna III, Inc. under programs of the federal government for the year ended December 31, 2023. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 Simeanna III, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Simeanna III, Inc.
De Minimis Rate Used: Y
Rate Explanation: Simeanna III, Inc. has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Simeanna III, Inc. has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.