Notes to SEFA
Title: Note 1 – Basis of Presentation
Accounting Policies: Note 2 – Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: SCI-Arc has elected not to use the 10% de minimis indirect cost rate as covered in 2 CFR 200.414.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Southern California Institute of Architecture (SCI-Arc), under programs of the federal government for the year ended August 31, 2024. 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, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of SCI-Arc, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of SCI-Arc.
Title: Note 2 – Summary of Significant Accounting Policies
Accounting Policies: Note 2 – Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: SCI-Arc has elected not to use the 10% de minimis indirect cost rate as covered in 2 CFR 200.414.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
SCI-Arc has elected not to use the 10% de minimis indirect cost rate as covered in 2 CFR 200.414.
Title: Note 3 – Subrecipients
Accounting Policies: Note 2 – Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: SCI-Arc has elected not to use the 10% de minimis indirect cost rate as covered in 2 CFR 200.414.
SCI-Arc did not pass through any awards to subrecipients for the year ended August 31, 2024.