Notes to SEFA
Title: NOTE 1—BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on 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 Organization allocates indirect costs monthly based on direct costs as management has determined that is the most equitable way to allocate indirect costs across programs and grants.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Tellurian, Inc. under programs of the federal government for the year ended December 31, 2023. The information in this 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), and the State Single Audit Guidelines. Because the Schedule presents only a selected portion of the operations of Tellurian, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Tellurian, Inc.
Title: NOTE 2—INDIRECT COST RATE
Accounting Policies: Expenditures reported on 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 Organization allocates indirect costs monthly based on direct costs as management has determined that is the most equitable way to allocate indirect costs across programs and grants.
Tellurian, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE 3—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on 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 Organization allocates indirect costs monthly based on direct costs as management has determined that is the most equitable way to allocate indirect costs across programs and grants.
Expenditures reported on 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.
Title: NOTE 4—LOANS OUTSTANDING
Accounting Policies: Expenditures reported on 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 Organization allocates indirect costs monthly based on direct costs as management has determined that is the most equitable way to allocate indirect costs across programs and grants.
Tellurian, Inc. has received the direct loan program listed below. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Tellurian, Inc. received no additional loans during the year. The balance of the loan outstanding at December 31, 2023, is ALN 14.239, Home Investment Partnerships Program in the amount of $408,000.