Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The SEFA is presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Cost rates were negotiated and approved by the US Dept of the Interior
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of Biodiversity Research Institute. All federal awards received directly from federal agencies as well as federal awards passed through other governmental agencies are included on the schedule. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Because the schedule presents only a selected portion of the operations of Biodiversity Research Institute, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Biodiversity Research Institute.
Title: Summary of Significant Accounting Policies
Accounting Policies: The SEFA is presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Cost rates were negotiated and approved by the US Dept of the Interior
The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. Biodiversity Research Institute has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.