Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS INCLUDES THE FEDERAL GRANT ACTIVITY OF AMERICAN INSTITUTE OF MATHEMATICS AND IS PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING.
De Minimis Rate Used: N
Rate Explanation: THE INSTITUTE DID NOT ELECT TO USE THE 10 PERCENT DE MINIMIS COST RATE COVERED IN 200.414 INDIRECT COSTS OF THE UNIFORM GUIDANCE
THE INFORMATION IN THIS SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATION (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES AND AUDIT REQUIREMENTS FOR FEDERAL REWARDS. THEREFORE, SOME AMOUNTS PRESENTED IN THIS SCHEDULE MAY DIFFER FROM AMOUNTS PRESENTED IN, OR USED IN THE PREPARATION OF, THE BASIC FINANCIAL STATEMENTS.