Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant
and cost contract activity of NUARI and is presented on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NUARI has elected not to use the 10 percent de minimus indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of
NUARI under programs of the federal government for the year ended May 31, 2025. The information in
this Schedule is presented in accordance with the requirements of 2 CFR 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 NUARI, it is not intended to
and does not present the financial position, changes in net assets, or cash flows of NUARI.