Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, 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.
De Minimis Rate Used: N
Rate Explanation: SSSC has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “SEFA”) includes the federal award activity for the Sitka Sound Science Center (“SSSC”) under programs of the federal government for the year ended December 31, 2023. The information in the SEFA 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 SEFA presents only a selected portion of the operations of the Sitka Sound Science Center, it is not intended to and does not present the financial position, changes in net assets or cash flows of SSSC.