Notes to SEFA
Title: Note 1: 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 entity has a negotiated rate with NSF and uses that rate for indirect recovery instead of using a de minimis rate option.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Associated Universities, Inc. (AUI) under programs of the federal government for the year ended September 30, 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). Because the Schedule presents only a selected portion of the operations of AUI, it is not intended to and does not present the financial position, changes in net assets or cash flows of AUI. The reimbursement of indirect costs reflected in the accompanying financial statements as federal awards revenue is subject to final approval by federal grantors and could be adjusted upon the results of these reviews. Management believes that the results of any such adjustment will not be material to AUI’s financial position or change in net assets.
Title: Note 2: Summary of Significant Accounting Policies
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 entity has a negotiated rate with NSF and uses that rate for indirect recovery instead of using a de minimis rate option.
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.
Title: Note 3: Indirect Cost Rate
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 entity has a negotiated rate with NSF and uses that rate for indirect recovery instead of using a de minimis rate option.
AUI has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 4: Assistance Listings
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 entity has a negotiated rate with NSF and uses that rate for indirect recovery instead of using a de minimis rate option.
As a federally funded research and development center, all of AUI’s federal awards have been attributed to the Research and Development Cluster. The following summarized assistance listings from the schedule of federal expenditures are included in AUI’s Research and Development Cluster for the year ended September 30, 2023: