Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as toreimbursement.
De Minimis Rate Used: Y
Rate Explanation: iCivics, Inc. has elected to use the 10 percent de minimis indirect cost rate allowed under UniformGuidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grantactivity of iCivics, Inc. under programs of the federal government for the year ended June 30, 2022. Theinformation in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selectedportion of the operations of iCivics, Inc., it is not intended to and does not present the financial position,changes in net assets, or cash flows of iCivics, Inc..