Notes to SEFA
Title: 1. Basis of Accounting
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of Headwaters Economics, Inc. (the “Organization”) under programs of the federal government for the year ended December 31, 2024 and is presented on the accrual basis of accounting. 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). Because the schedule presents only a selected portion of the operations of Headwaters Economics, Inc., it is not intended to and does not present the financial position, changes in net position, or cash flows of Headwaters Economics, Inc.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10% de minimis indirect cost rate described in the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Headwaters Economics, Inc. (the “Organization”) under programs of the federal government for the year ended December 31, 2024 and is presented on the accrual basis of accounting. 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). Because the schedule presents only a selected portion of the operations of Headwaters Economics, Inc., it is not intended to and does not present the financial position, changes in net position, or cash flows of Headwaters Economics, Inc.
Title: 2. Cost Allocation
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of Headwaters Economics, Inc. (the “Organization”) under programs of the federal government for the year ended December 31, 2024 and is presented on the accrual basis of accounting. 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). Because the schedule presents only a selected portion of the operations of Headwaters Economics, Inc., it is not intended to and does not present the financial position, changes in net position, or cash flows of Headwaters Economics, Inc.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10% de minimis indirect cost rate described in the Uniform Guidance.
The Organization has elected to use the 10% de minimis indirect cost rate described in the Uniform Guidance.