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 as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Company has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Analytic Services Inc. and Subsidiaries (the Company) under programs of the federal government for the year ended September 30, 2023. The information in the 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 the Company, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Company.
Title: U.S. Government Contract Audits
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 as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Company has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Costs charged to federal awards are subject to audit by government auditors. An audit of these costs has not been completed for the year ended September 30, 2023. The Company is of the opinion that any adjustments of costs for the year ended September 30, 2023 will not have a significant effect on its federal awards.
Title: Total Expenditures of Federal Awards of Subsidiaries
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 as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Company has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Total expenditures per the Schedule include expenditures of the Company and its subsidiaries, with the exception of federal awards for Advanced Technology International (ATI) for the period from October 1, 2022 through February 28, 2023, which is one of the Company’s subsidiaries. In February 2023, ATI and the Company entered into a change of control agreement whereby the Company no longer has the ability to exercise control nor exert significant influence over the operations of ATI. As a result, ATI balances were reported as discontinued operations and ATI is no longer consolidated with ANSER. Total expenditures of federal awards for ATI are included in a stand-alone schedule of expenditures of federal awards that is issued in a separate report in accordance with the Uniform Guidance.