Notes to SEFA
Accounting Policies: GENERAL: The accompanying Schedule of Expenditures of Federal Awards (“Schedule”) presents the activity of all federal award programs of Fact Forward for the year ended September 30, 2024. All federal awards received directly from the federal agencies, as well as those passed through other government agencies, are included on the Schedule. BASIS OF ACCOUNTING: The accompanying Schedule is presented using the accrual basis of accounting, which is described in the notes to Fact Forward’s financial statements. RELATIONSHIP TO FINANCIAL STATEMENTS: Federal award expenditures are reported in Fact Forward's financial statements as expenses in the Statements of Activities. RELATIONSHIP TO FEDERAL FINANCIAL REPORTS: Amounts reported in the accompanying Schedule agree with the amounts reported in the related federal financial reports except for timing difference relating to expenditures made subsequent to the filing of the federal financial reports.
De Minimis Rate Used: N
Rate Explanation: Fact Forward has elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance except for awards that can be fully utilized with direct costs.