Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for amounts passed through to subrecipients which are recognized when disbursed to the subrecipient. 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: The Institute has not used the 10 percent de minimis indirect cost rate as allowed by the Uniform Guidance because it has a negotiated indirect cost rate agreement with the U.S. Agency for International Development.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of American National Standards Institute, Incorporated (the “Institute”) under programs of the federal government for the year ended December 31, 2024. The information in the 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 Institute, it is not intended to, and does not, present the financial position, changes in net assets or cash flows of the Institute.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for amounts passed through to subrecipients which are recognized when disbursed to the subrecipient. 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: The Institute has not used the 10 percent de minimis indirect cost rate as allowed by the Uniform Guidance because it has a negotiated indirect cost rate agreement with the U.S. Agency for International Development.
Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for amounts passed through to subrecipients which are recognized when disbursed to the subrecipient. 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.
Title: INDIRECT COST RATES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for amounts passed through to subrecipients which are recognized when disbursed to the subrecipient. 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: The Institute has not used the 10 percent de minimis indirect cost rate as allowed by the Uniform Guidance because it has a negotiated indirect cost rate agreement with the U.S. Agency for International Development.
The Institute has not used the 10 percent de minimis indirect cost rate as allowed by the Uniform Guidance because it has a negotiated indirect cost rate agreement with the U.S. Agency for International Development.