Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(1) 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.
(2) Pass-through entity identifying numbers are presented where available.
(3) Connecticut Center for Advanced Technology, Inc. has elected not to use
the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.
(4) CCAT negotiates indirect billing rates with the Office of Naval Research.
The following rates were applied to 2023 program cost based on actual
rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Advanced
Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead
(excludes capital purchases, pass-through transactions, major
subawards over $1M)
De Minimis Rate Used: N
Rate Explanation: (4) CCAT negotiates indirect billing rates with the Office of Naval Research. The following rates were applied to 2023 program cost based on actual rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Advanced Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead (excludes capital purchases, pass-through transactions, major subawards over $1M)
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Connecticut Center for Advanced Technology, 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). Because the Schedule presents only a selected portion of the operations of Connecticut Center for Advanced Technology, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Connecticut Center for Advanced Technology, Inc.
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(1) 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.
(2) Pass-through entity identifying numbers are presented where available.
(3) Connecticut Center for Advanced Technology, Inc. has elected not to use
the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.
(4) CCAT negotiates indirect billing rates with the Office of Naval Research.
The following rates were applied to 2023 program cost based on actual
rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Advanced
Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead
(excludes capital purchases, pass-through transactions, major
subawards over $1M)
De Minimis Rate Used: N
Rate Explanation: (4) CCAT negotiates indirect billing rates with the Office of Naval Research. The following rates were applied to 2023 program cost based on actual rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Advanced Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead (excludes capital purchases, pass-through transactions, major subawards over $1M)
(1) 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 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(1) 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.
(2) Pass-through entity identifying numbers are presented where available.
(3) Connecticut Center for Advanced Technology, Inc. has elected not to use
the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.
(4) CCAT negotiates indirect billing rates with the Office of Naval Research.
The following rates were applied to 2023 program cost based on actual
rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Advanced
Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead
(excludes capital purchases, pass-through transactions, major
subawards over $1M)
De Minimis Rate Used: N
Rate Explanation: (4) CCAT negotiates indirect billing rates with the Office of Naval Research. The following rates were applied to 2023 program cost based on actual rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Advanced Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead (excludes capital purchases, pass-through transactions, major subawards over $1M)
(2) Pass-through entity identifying numbers are presented where available.
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(1) 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.
(2) Pass-through entity identifying numbers are presented where available.
(3) Connecticut Center for Advanced Technology, Inc. has elected not to use
the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.
(4) CCAT negotiates indirect billing rates with the Office of Naval Research.
The following rates were applied to 2023 program cost based on actual
rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Advanced
Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead
(excludes capital purchases, pass-through transactions, major
subawards over $1M)
De Minimis Rate Used: N
Rate Explanation: (4) CCAT negotiates indirect billing rates with the Office of Naval Research. The following rates were applied to 2023 program cost based on actual rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Advanced Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead (excludes capital purchases, pass-through transactions, major subawards over $1M)
(3) Connecticut Center for Advanced Technology, Inc. has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(1) 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.
(2) Pass-through entity identifying numbers are presented where available.
(3) Connecticut Center for Advanced Technology, Inc. has elected not to use
the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.
(4) CCAT negotiates indirect billing rates with the Office of Naval Research.
The following rates were applied to 2023 program cost based on actual
rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Advanced
Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead
(excludes capital purchases, pass-through transactions, major
subawards over $1M)
De Minimis Rate Used: N
Rate Explanation: (4) CCAT negotiates indirect billing rates with the Office of Naval Research. The following rates were applied to 2023 program cost based on actual rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Advanced Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead (excludes capital purchases, pass-through transactions, major subawards over $1M)
(4) CCAT negotiates indirect billing rates with the Office of Naval Research.
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(1) 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.
(2) Pass-through entity identifying numbers are presented where available.
(3) Connecticut Center for Advanced Technology, Inc. has elected not to use
the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.
(4) CCAT negotiates indirect billing rates with the Office of Naval Research.
The following rates were applied to 2023 program cost based on actual
rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Advanced
Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead
(excludes capital purchases, pass-through transactions, major
subawards over $1M)
De Minimis Rate Used: N
Rate Explanation: (4) CCAT negotiates indirect billing rates with the Office of Naval Research. The following rates were applied to 2023 program cost based on actual rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Advanced Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead (excludes capital purchases, pass-through transactions, major subawards over $1M)
The following rates were applied to 2023 program cost based on actual rates calculated:
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(1) 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.
(2) Pass-through entity identifying numbers are presented where available.
(3) Connecticut Center for Advanced Technology, Inc. has elected not to use
the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.
(4) CCAT negotiates indirect billing rates with the Office of Naval Research.
The following rates were applied to 2023 program cost based on actual
rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Advanced
Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead
(excludes capital purchases, pass-through transactions, major
subawards over $1M)
De Minimis Rate Used: N
Rate Explanation: (4) CCAT negotiates indirect billing rates with the Office of Naval Research. The following rates were applied to 2023 program cost based on actual rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Advanced Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead (excludes capital purchases, pass-through transactions, major subawards over $1M)
• Fringe benefits = 37.93% distributed against salaries / wages
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(1) 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.
(2) Pass-through entity identifying numbers are presented where available.
(3) Connecticut Center for Advanced Technology, Inc. has elected not to use
the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.
(4) CCAT negotiates indirect billing rates with the Office of Naval Research.
The following rates were applied to 2023 program cost based on actual
rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Advanced
Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead
(excludes capital purchases, pass-through transactions, major
subawards over $1M)
De Minimis Rate Used: N
Rate Explanation: (4) CCAT negotiates indirect billing rates with the Office of Naval Research. The following rates were applied to 2023 program cost based on actual rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Advanced Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead (excludes capital purchases, pass-through transactions, major subawards over $1M)
• Overhead lab = 94.79% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Advanced Technology Center
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(1) 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.
(2) Pass-through entity identifying numbers are presented where available.
(3) Connecticut Center for Advanced Technology, Inc. has elected not to use
the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.
(4) CCAT negotiates indirect billing rates with the Office of Naval Research.
The following rates were applied to 2023 program cost based on actual
rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Advanced
Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead
(excludes capital purchases, pass-through transactions, major
subawards over $1M)
De Minimis Rate Used: N
Rate Explanation: (4) CCAT negotiates indirect billing rates with the Office of Naval Research. The following rates were applied to 2023 program cost based on actual rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Advanced Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead (excludes capital purchases, pass-through transactions, major subawards over $1M)
• Overhead Pitkin = 25.55% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Pitkin location
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(1) 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.
(2) Pass-through entity identifying numbers are presented where available.
(3) Connecticut Center for Advanced Technology, Inc. has elected not to use
the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.
(4) CCAT negotiates indirect billing rates with the Office of Naval Research.
The following rates were applied to 2023 program cost based on actual
rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Advanced
Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct
salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead
(excludes capital purchases, pass-through transactions, major
subawards over $1M)
De Minimis Rate Used: N
Rate Explanation: (4) CCAT negotiates indirect billing rates with the Office of Naval Research. The following rates were applied to 2023 program cost based on actual rates calculated:
• Fringe benefits = 37.93% distributed against salaries / wages
• Overhead lab = 94.79% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Advanced Technology Center
• Overhead Pitkin = 25.55% applied to each program based on direct salaries / wages and fringe for employees at CCAT’s Pitkin location
• G&A = 29.24% applied against total direct cost including overhead (excludes capital purchases, pass-through transactions, major subawards over $1M)
• G&A = 29.24% applied against total direct cost including overhead (excludes capital purchases, pass-through transactions, major subawards over $1M)