Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: 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. NASTAD
has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
Federal award activity of NASTAD under programs of the Federal Government for the year ended
September 30, 2024. Information in the 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). The Schedule
presents only a selected portion of the operations of NASTAD; accordingly, it is not intended to and
does not present the financial position, changes in net assets or cash flows of NASTAD.
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: 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. NASTAD
has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
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. NASTAD
has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance.