Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Accrual basis of accounting following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122.
De Minimis Rate Used: N
Rate Explanation: No de minimis cost rate used
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Osage, LLC (the "Company") under programs of the federal government for the year ended Setpember 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 the Company, it is not intended to and does not present the statement of net position, or the related statements of reveneus, expenses, and changes in net position, or cash flows of Osage, LLC.
Title: Summary of Significant Accounting Policies
Accounting Policies: Accrual basis of accounting following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122.
De Minimis Rate Used: N
Rate Explanation: No de minimis cost rate used
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 and/or OMB Circular A-122, wherein certain types of expenditures are not allowable or are limited as to reimbursement.