Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of Foundation for Atlanta Veterans Education and Research, Inc. under programs of the federal government for the year ended December 31, 2023. The information in this 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). Because this schedule presents only a selected portion of the operations of Foundation for Atlanta Veterans Education and Research, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Foundation for Atlanta Veterans Education and Research, Inc. 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.
De Minimis Rate Used: N
Rate Explanation: Auditee did not use the de minimis cost rate. Auditee used the indirect cost rates in each federal award agreement.