Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (“Schedule”) includes the federal award activity of Indiana Humanities Council, Inc. (“IH”) for the year ended October 31, 2024 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 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 IH, amounts presented in the Schedule may differ from amounts included in the financial statements.
De Minimis Rate Used: N
Rate Explanation: IH has elected not to use the 10% de minimis indirect cost rate allowed in the Uniform Guidance, section 414.