Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes all federal grants to the Institute that had expenditure activity during the year ended September 30, 2024. This Schedule has been prepared on the accrual basis of accounting for expenditures in accordance with accounting principles generally accepted in the United States of America. Grant revenues and expenditures are recorded for financial reporting purposes when the Institute has met the qualifications for the respective grants. Grant revenues are equivalent to grant expenditures. 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”).
De Minimis Rate Used: N
Rate Explanation: The Institute has not elected to use the 10% de minimis cost rate allowed under the Uniform Guidance.