Notes to SEFA
Title: NOTE A - BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards is prepared on the accrual basis of accounting. 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”). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial
statements.
De Minimis Rate Used: N
Rate Explanation: NORC’s federally negotiated cost rate was changed to 54% for all new contracts beginning on or after December 2023.
The accompanying schedule of expenditures of federal awards is prepared on the accrual basis of
accounting. 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”). Therefore, some amounts presented in
this schedule may differ from amounts presented in or used in the preparation of the basic financial
statements. National Opinion Research Center (“NORC”) did not elect to use the 10% de minimis indirect
cost rate allowed under the Uniform Guidance.
Title: NOTE B - CATEGORIZATION OF PROGRAM
Accounting Policies: The accompanying schedule of expenditures of federal awards is prepared on the accrual basis of accounting. 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”). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial
statements.
De Minimis Rate Used: N
Rate Explanation: NORC’s federally negotiated cost rate was changed to 54% for all new contracts beginning on or after December 2023.
All work performed by NORC that is funded by federal assistance is considered research.