Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Laureate Institute for Brain Research, Inc. (LIBR) and 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. For purposes of the Schedule, federal awards have been classified into two types: Direct funded grants consisting of federal assistance; and Pass-through grants received from nonfederal organizations made under federally sponsored programs conducted by those organizations.
De Minimis Rate Used: N
Rate Explanation: LIBR has a federally negotiated indirect cost rate and therefore elected not to use the 10% de minimis indirect cost rate as covered in 2 CFR 200.414.