Notes to SEFA
Title: Reconciliation to Statement of Activities
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Scientific Committee on Oceanic Research, Inc. (SCOR) 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 SCOR it is not intended to and does not present the financial position, changes in net assets, or cash flows of SCOR. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: SCOR has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Program expenditures presented on the Satement of Activities does not agree with the Schedule of Expenditures of Federal Awards as follows: Scientifiec programs: Reimbursed Indirect Costs - $108, Non-Federal Program Funds - ($195,124), Total Scientific programs Reconciling Adjustment - ($195,016). Travel and subsistence programs: Non-Federal Program Funds/Total Travel and subsistence Adjustment - ($5,812). Other conferences and meetings: Non-Federal Program Funds/Total Other conferences and meetings Adjustment - ($9,594).