Notes to SEFA
Title: Note A - Significant Accounting Policies -
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Water Institute of the Gulf and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The Institute did not elect to use the 10% de minimis indirect cost rate during the year ended December 31, 2023.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Water Institute of the Gulf and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards.
Title: Note B - Indirect Cost Election -
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Water Institute of the Gulf and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The Institute did not elect to use the 10% de minimis indirect cost rate during the year ended December 31, 2023.
The Institute did not elect to use the 10% de minimis indirect cost rate during the year ended December 31, 2023.
Title: Note C - Reconciliation of Expenses to Federal Expenditures -
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Water Institute of the Gulf and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The Institute did not elect to use the 10% de minimis indirect cost rate during the year ended December 31, 2023.
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