Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of GTI Energy and Subsidiaries (GTI Energy) under programs of the federal government for the year ended December 31, 2023. Subsidiaries with federal expenditures, included in the Schedule, include Frontier Energy, Inc. and Projeo Corporation. 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of GTI Energy, it is not intended to and does not present the financial position, statements of activities, changes in net assets, functional expenses, or cash flows cash flows of GTI Energy. GTI Energy has been identified as an exempt organization per 2 CFR 200.401(c), therefore GTI Energy must operate under federal cost principles applicable to for-profit entities located at 48 CFR Subpart 31.2. Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in 48 CFR Subpart 31.2, as prescribed by Title 2 U.S. Code of Federal Regulations Part 200.401(c). 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. The pass-through entity identifying numbers are presented where available. GTI Energy has elected not to use the 10 percent de minimis indirect cost rate to recover indirect costs as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The GTI has elected not to use the 10 percent de minimis indirect cost rate to recover indirect costs as allowed under the Uniform Guidance.