Notes to SEFA
Title: Note 1. Basis of Presentation
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. With respect to federal awards provided by CI to subrecipients, the federal awards are deemed to be expended by CI when the funds are disbursed to subrecipients. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: CI negotiates and utilizes an indirect cost rate with the federal government and therefore does not use the 10% de minimus cost rate option.
The accompanying consolidated schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Conservation International Foundation and Affiliates (CI) under programs of the federal government for the fiscal year ended June 30, 2024. 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 CI, it is not intended to and does not present the consolidated financial position, changes in net assets or cash flows of CI.
Title: Note 2. Summary of Significant Accounting Policies
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. With respect to federal awards provided by CI to subrecipients, the federal awards are deemed to be expended by CI when the funds are disbursed to subrecipients. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: CI negotiates and utilizes an indirect cost rate with the federal government and therefore does not use the 10% de minimus cost rate option.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: Note 3. Indirect Cost Rate
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. With respect to federal awards provided by CI to subrecipients, the federal awards are deemed to be expended by CI when the funds are disbursed to subrecipients. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: CI negotiates and utilizes an indirect cost rate with the federal government and therefore does not use the 10% de minimus cost rate option.
CI has elected not to use the 10% de minimus cost rate allowed under the Uniform Guidance.
Title: Note 4. Subrecipients
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. With respect to federal awards provided by CI to subrecipients, the federal awards are deemed to be expended by CI when the funds are disbursed to subrecipients. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: CI negotiates and utilizes an indirect cost rate with the federal government and therefore does not use the 10% de minimus cost rate option.
Amounts provided to subrecipients shown separately on the Schedule are also a component of the federal expenditures presented.
With respect to federal awards provided by CI to subrecipients, the federal awards are deemed to be expended by CI when the funds are disbursed to subrecipients.
Title: Note 5. Loan Guarantee
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. With respect to federal awards provided by CI to subrecipients, the federal awards are deemed to be expended by CI when the funds are disbursed to subrecipients. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: CI negotiates and utilizes an indirect cost rate with the federal government and therefore does not use the 10% de minimus cost rate option.
The outstanding balance of the loan guarantee under ALN 98.U03 is $712,097 at June 30, 2024.