Notes to SEFA
Accounting Policies: BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
award activity of Archbold Expeditions, 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 Archbold Expeditions, Inc., it
is not intended to and does not present the financial position, changes in net assets, or cash flows
of Archbold Expeditions, Inc.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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.
De Minimis Rate Used: N
Rate Explanation: Archbold Expeditions, Inc., has not elected to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance. Instead, the Organization has a Negotiated Indirect Cost
Rate Agreement (NICRA) with the U.S. Department of the Interior, Fish and Wildlife Services
for a provisional rate of 55% and 30% for research conducted on the Station and Ranch and
research conducted away from the Station and Ranch, respectively.