Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized, as applicable, by 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: The Institute elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. The Institute utilizes the indirect cost rates included in the grant agreements awarded and obtained. Predetermined and/or provisional indirect cost rates were obtained on January 3, 2024, January 12, 2022, December 4, 2019, June 13, 2016, and June 1, 2015, covering periods from 2013 to the present. Accordingly, grants applied for and obtained after these dates include these federally approved indirect cost rates.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Space Science Institute (the “Institute”) 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.