Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis as defined in Uniform Guidance. Under these guidelines, amounts provided to subrecipients are reflected in the schedule when advanced. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. Subrecipient advances are included in the Schedule and total $13,055,778.
De Minimis Rate Used: N
Rate Explanation: MAG America uses a pre-determined rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of MAG America, Inc. (MAG America) under programs of the federal government for the year ended December 31, 2023. The information in the Schedule is presented in accordance with the requirements of the 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 MAG America, it is not intended to and does not present the financial position change in net assets or cash flows of MAG America.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis as defined in Uniform Guidance. Under these guidelines, amounts provided to subrecipients are reflected in the schedule when advanced. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. Subrecipient advances are included in the Schedule and total $13,055,778.
De Minimis Rate Used: N
Rate Explanation: MAG America uses a pre-determined rate.
Expenditures reported on the Schedule are reported on the accrual basis as defined in Uniform Guidance. Under these guidelines, amounts provided to subrecipients are reflected in the Schedule when advanced. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. Subrecipient advances are included in the Schedule and total $13,055,778.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis as defined in Uniform Guidance. Under these guidelines, amounts provided to subrecipients are reflected in the schedule when advanced. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. Subrecipient advances are included in the Schedule and total $13,055,778.
De Minimis Rate Used: N
Rate Explanation: MAG America uses a pre-determined rate.
MAG America provides assistance through joint activities with its subrecipient Mines Advisory Group (MAG). MAG is the sole subrecipient of MAG America’s grant funding. MAG and MAG America submit a combined indirect cost rate calculation to the U.S. Department of State’s Office of Weapon Removal and Abatement (WRA). In addition, based upon an agreement with the WRA, certain costs (vehicle and equipment rental, construction costs, partner and subcontract costs and depreciation expense related to field office equipment and vehicles) are to be excluded from the indirect cost rate calculation.
On certain grant agreements, the cumulative indirect costs charged exceeded the indirect budget line item as proposed by MAG. However, the formal grant awards stipulated grant budgets by objective rather than by specific line item. MAG has a pre-determined indirect cost rate agreement with the U.S. Department of State. As such, MAG does not use the 10% de minimis option of the Uniform Guidance.