Notes to SEFA
Accounting Policies: The accompanying schedule of Expenditures of Federal Awards (the Schedule) presents the expenditures of WIYN Consortium, Inc. (WIYN) under programs of the Federal Government and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of the 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursements. Because the Schedule presents only a portion of the operations of WIYN, it is not intended to and does not present the financial position, change in net assets, and cash flows of WIYN.
For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between WIYN and agencies and departments of the federal government and all sub-awards made to WIYN by nonfederal organizations pursuant to federal grants, contracts, and similar agreements.
De Minimis Rate Used: N
Rate Explanation: WIYN has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.