Title: BASIS OF ACCOUNTING
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) summarizes the
expenditures of Southern Research Institute (the Organization) under direct contracts and
subcontracts of the federal government for the year ended January 3, 2025. Because the Schedule
presents only a selected portion of the operations of the Organization, it is not intended to and does
not present the financial position, results of operations, changes in net position and cash flows of the
Organization.
For purposes of the Schedule, federal awards include all grants, contracts and similar agreements
entered into directly between the Organization, the agencies and departments of the federal
government and all subawards to the Organization by nonfederal organizations pursuant to federal
grants, contracts and similar agreements. The information in the Schedule is presented in accordance
with the provisions 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 Organization has obtained Federal Assistance Listing (FAL) numbers to ensure that all programs
have been appropriately identified in the Schedule. FAL numbers for applicable programs have been
appropriately listed by those programs. Certain contracts and grants are not assigned FAL numbers
and, therefore, FAL numbers are not listed by these programs.
For purposes of the Schedule, expenditures for federal awards programs are recognized on the
accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to charge a de minimis rate of 10% for all federal awards.
The accompanying schedule of expenditures of federal awards (the Schedule) summarizes the
expenditures of Southern Research Institute (the Organization) under direct contracts and
subcontracts of the federal government for the year ended January 3, 2025. Because the Schedule
presents only a selected portion of the operations of the Organization, it is not intended to and does
not present the financial position, results of operations, changes in net position and cash flows of the
Organization.
For purposes of the Schedule, federal awards include all grants, contracts and similar agreements
entered into directly between the Organization, the agencies and departments of the federal
government and all subawards to the Organization by nonfederal organizations pursuant to federal
grants, contracts and similar agreements. The information in the Schedule is presented in accordance
with the provisions 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 Organization has obtained Federal Assistance Listing (FAL) numbers to ensure that all programs
have been appropriately identified in the Schedule. FAL numbers for applicable programs have been
appropriately listed by those programs. Certain contracts and grants are not assigned FAL numbers
and, therefore, FAL numbers are not listed by these programs.
For purposes of the Schedule, expenditures for federal awards programs are recognized on the
accrual basis of accounting.
Title: INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) summarizes the
expenditures of Southern Research Institute (the Organization) under direct contracts and
subcontracts of the federal government for the year ended January 3, 2025. Because the Schedule
presents only a selected portion of the operations of the Organization, it is not intended to and does
not present the financial position, results of operations, changes in net position and cash flows of the
Organization.
For purposes of the Schedule, federal awards include all grants, contracts and similar agreements
entered into directly between the Organization, the agencies and departments of the federal
government and all subawards to the Organization by nonfederal organizations pursuant to federal
grants, contracts and similar agreements. The information in the Schedule is presented in accordance
with the provisions 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 Organization has obtained Federal Assistance Listing (FAL) numbers to ensure that all programs
have been appropriately identified in the Schedule. FAL numbers for applicable programs have been
appropriately listed by those programs. Certain contracts and grants are not assigned FAL numbers
and, therefore, FAL numbers are not listed by these programs.
For purposes of the Schedule, expenditures for federal awards programs are recognized on the
accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to charge a de minimis rate of 10% for all federal awards.
The Organization did not elect to charge a de minimis rate of 10% for all federal awards.