Audit 359363

Title: NOTE 1 – GENERAL Accounting Policies: The accompanying SEFA is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The Institute has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards (“the SEFA”) presents the expenditures of all federal financial awards programs received by the Institute. All federal awards received directly from federal agencies, and federal awards passed through other government agencies, are included on the schedule.

Title: NOTE 2 – BASIS OF ACCOUNTING Accounting Policies: The accompanying SEFA is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The Institute has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying SEFA is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.

Title: NOTE 3 – INDIRECT COST RATE Accounting Policies: The accompanying SEFA is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The Institute has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The Institute has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.