Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures reported on the 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: AGU has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. There is not enough funds available after covering program costs to be able to charge indirect costs.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of American Geophysical Union (AGU), 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 AGU, it is not intended to, and does not, present the financial position, statements of activities or cash flows of AGU.
Title: Note 2. Summary of Significant Accounting Policies for Federal Award Expenditures
Accounting Policies: Expenditures reported on the 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: AGU has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. There is not enough funds available after covering program costs to be able to charge indirect costs.
Expenditures reported on the 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.
Title: Note 3. Indirect Cost Rate
Accounting Policies: Expenditures reported on the 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: AGU has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. There is not enough funds available after covering program costs to be able to charge indirect costs.
AGU has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.