Notes to SEFA
Title: 1. Basis of Presentation
Accounting Policies: Expenditures reported on the SEFA 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: NADO and the Foundation record expenditures of federal awards using the indirect cost
and fringe benefit rates per the non-profit rate agreement with the federal government,
which was approved in accordance with the authority in the Uniform Guidance. In this
manner, NADO and the Foundation have elected not to use the 10% de minimis indirect
cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (SEFA) includes the
federal award activity of NADO and the Foundation under the programs of the federal
government for the year ended December 31, 2024. The information in the SEFA 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 SEFA presents only
a selected portion of the operations of NADO and the Foundation, it is not intended to,
and does not, present the financial position, changes in net assets, or cash flows of NADO
and the Foundation.
Title: 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the SEFA 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: NADO and the Foundation record expenditures of federal awards using the indirect cost
and fringe benefit rates per the non-profit rate agreement with the federal government,
which was approved in accordance with the authority in the Uniform Guidance. In this
manner, NADO and the Foundation have elected not to use the 10% de minimis indirect
cost rate as allowed under the Uniform Guidance.
Expenditures reported on the SEFA 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.
Title: 3. Indirect Cost Rates
Accounting Policies: Expenditures reported on the SEFA 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: NADO and the Foundation record expenditures of federal awards using the indirect cost
and fringe benefit rates per the non-profit rate agreement with the federal government,
which was approved in accordance with the authority in the Uniform Guidance. In this
manner, NADO and the Foundation have elected not to use the 10% de minimis indirect
cost rate as allowed under the Uniform Guidance.
NADO and the Foundation record expenditures of federal awards using the indirect cost
and fringe benefit rates per the non-profit rate agreement with the federal government,
which was approved in accordance with the authority in the Uniform Guidance. In this
manner, NADO and the Foundation have elected not to use the 10% de minimis indirect
cost rate as allowed under the Uniform Guidance.