Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures reported in 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: GMF negotiates and utilizes an indirect cost rate with the federal government, and therefore, does not use the 10% de minimis cost rate option.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award
activity of The German Marshall Fund of the United States—A Memorial to the Marshall Plan and
Subsidiaries (GMF) 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). Because the Schedule presents only a selected
portion of the operations of GMF, it is not intended to and does not present the financial position, changes
in net assets, or cash flows of GMF.
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported in 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: GMF negotiates and utilizes an indirect cost rate with the federal government, and therefore, does not use the 10% de minimis cost rate option.
Expenditures reported in 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 in 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: GMF negotiates and utilizes an indirect cost rate with the federal government, and therefore, does not use the 10% de minimis cost rate option.
GMF has elected not to use the 10% de minimis indirect rate as allowed under the Uniform Guidance