Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported in the schedule of expenditures of federal awards (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.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10-percent de minimis indirect cost rate allowed by the Uniform Guidance.
The accompanying Schedule includes the federal award activity of Alluma, Inc. under programs
of the federal government for the year ended December 31, 2023. The information 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
Alluma, Inc., it is not intended to and does not present the financial position, changes in operations
and net assets, or cash flows of Alluma, Inc.