Notes to SEFA
Title: Note A: Basis of Presentation
Accounting Policies: The schedule of expenditures of federal awards is prepared on the accrual basis of accounting. The Institute has not elected to use the 10 percent de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: the auditee has not elected to use the 10 percent de minimis indirect cost rate because it uses a negotiated indirect cost rate
The accompanying schedule of expenditures of federal awards (The Schedule) is prepared on the accrual basis of accounting. 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 selected portion of the activities of the Institute, it is not intended to, and does not, present either the financial position, changes in net assets, or cash flows of the Institute. The Institute has not elected to use the 10 percent de minimis indirect cost rate.
Title: Note B: Major Program
Accounting Policies: The schedule of expenditures of federal awards is prepared on the accrual basis of accounting. The Institute has not elected to use the 10 percent de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: the auditee has not elected to use the 10 percent de minimis indirect cost rate because it uses a negotiated indirect cost rate
The Research and development grants are determined to be a cluster of grants. A cluster of grants is a grouping of closely related grants that share common compliance requirements. A cluster of grants shall be considered as one program for determining major programs, as described in 2 CFR section 200.518, Major Program Determination, of the Uniform Guidance.
Title: Note C: Subrecipients:
Accounting Policies: The schedule of expenditures of federal awards is prepared on the accrual basis of accounting. The Institute has not elected to use the 10 percent de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: the auditee has not elected to use the 10 percent de minimis indirect cost rate because it uses a negotiated indirect cost rate
The Institute provided federal awards to subrecipients as listed in the Schedule of Expenditures of Federal Awards.