Notes to SEFA
Title: Basis of Presentation
Accounting Policies: See next tab.
De Minimis Rate Used: N
Rate Explanation: n/a
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the
federal grant activity of The IKRON Corporation (the “Agency”) 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
(CFR) 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 the Agency, it is not intended to and does not present the
financial position, changes in net assets, or cash flows of the Agency.
Title: Summary of Significant Accounting Policies
Accounting Policies: See next tab.
De Minimis Rate Used: N
Rate Explanation: n/a
Expenditures reported on the Schedule are presented 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: Indirect Cost Allocation
Accounting Policies: See next tab.
De Minimis Rate Used: N
Rate Explanation: n/a
The Agency has not elected to the 10 percent de minimis indirect cost rate under Title 2 CFR
Section 200.414(f). Allowable facilities and administrative costs that benefit all programs and
cannot be identified to a specific program are allocated to programs using a specifically
identified base that results in an equitable distribution of costs.
Title: Sub-recipient Status
Accounting Policies: See next tab.
De Minimis Rate Used: N
Rate Explanation: n/a
The Agency is treated as a sub-recipient that receives a sub-award from a pass-through entity
to carry out part of the federal programs identified in the Schedule. As such, the Agency
conducts program activities and incurs related costs, submits service reimbursement requests
to the pass-through entity, and receives federal award funds upon approval of service
reimbursement requests.