Notes to SEFA
Title: 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Assistance Listing Numbers and pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: NICRA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
award activity of Island Conservation under programs of the federal government for the year ended December 31, 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 Island Conservation, it is not intended to and does not present the financial position, changes in net assets or cash flows of Island Conservation.
Title: 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Assistance Listing Numbers and pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: NICRA
Expenditures reported on the Schedule are reported on the accrual or modified 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. Pass-through entity identifying numbers are presented where available.
Title: 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Assistance Listing Numbers and pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: NICRA
The Organization has not elected to use the 10% de minimis indirect cost rate