Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: Such expenditures are recognized following, as
applicable, either the cost principles in OMB Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2
U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
(Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. BRAC USA 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 BRAC USA under
programs of the Federal Government for the year ended September 30, 2023. Information in the 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) . The Schedule presents only a selected portion of the operations of BRAC USA;
accordingly, it is not intended to and does not present the financial position, changes in net assets or cash flows of BRAC USA.
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: Such expenditures are recognized following, as
applicable, either the cost principles in OMB Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2
U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
(Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. BRAC USA 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, as
applicable, either the cost principles in OMB Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2
U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
(Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. BRAC USA has elected to use
the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.