Notes to SEFA
Title: NOTE 4—LOAN OUTSTANDING
Accounting Policies: NOTE 1—BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Tellurian, Inc. under programs of the federal government for the year ended December 31, 2024. 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). Because the Schedule presents only a selected portion of the operations of Tellurian, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Tellurian, Inc. NOTE 2—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on 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: Tellurian, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Tellurian, Inc. has received the direct loan program listed below. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Tellurian, Inc. received no additional loans during the year. The balance of the loan outstanding at December 31, 2024 is $408,000.