Audit 359897

Title: Basis of Presentation Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”), presents the federal grant activity of the Monterey Bay Aquarium Research Institute (the “Institute”). The information in the 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 the Schedule may differ from the presentation of the amounts in the financial statements. All federal awards passed through from other governmental agencies are included in the Schedule. During the year ended December 31, 2024, no noncash awards were received by the Institute. Expenditures reported on the Schedule are reported on the cash basis of accounting, a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America, to facilitate and comply with the cash reimbursement of grant expenditures by the Institute throughout the year. De Minimis Rate Used: N Rate Explanation: The Institute uses its negotiated indirect cost rates rather than the 10% de minimis rate allowed by Uniform Guidance The accompanying schedule of expenditures of federal awards (the “Schedule”), presents the federal grant activity of the Monterey Bay Aquarium Research Institute (the “Institute”). The information in the 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 the Schedule may differ from the presentation of the amounts in the financial statements. All federal awards passed through from other governmental agencies are included in the Schedule. During the year ended December 31, 2024, no noncash awards were received by the Institute. Expenditures reported on the Schedule are reported on the cash basis of accounting, a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America, to facilitate and comply with the cash reimbursement of grant expenditures by the Institute throughout the year.

Title: Facilities and Administrative Costs Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”), presents the federal grant activity of the Monterey Bay Aquarium Research Institute (the “Institute”). The information in the 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 the Schedule may differ from the presentation of the amounts in the financial statements. All federal awards passed through from other governmental agencies are included in the Schedule. During the year ended December 31, 2024, no noncash awards were received by the Institute. Expenditures reported on the Schedule are reported on the cash basis of accounting, a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America, to facilitate and comply with the cash reimbursement of grant expenditures by the Institute throughout the year. De Minimis Rate Used: N Rate Explanation: The Institute uses its negotiated indirect cost rates rather than the 10% de minimis rate allowed by Uniform Guidance The Institute uses its negotiated indirect cost rates rather than the 10% de minimis rate allowed by Uniform Guidance