Notes to SEFA
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION - The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of Carnegie Institute (Institute) under programs of the federal government for the year ended December 31, 2023. The information in this Schedule is presented in accordance with 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). Since the Schedule presents only a selected portion of the operations of the Institute, it is not intended to, and does not present, the consolidated financial position, activities or cash flows of the Institute.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICY - 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. No expenditures were made to any subrecipients. Pass-through entity identifying numbers are presented where available.
NOTE 3 - INDIRECT COST RATE -The Institute has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Institute has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.