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 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: Georgia Chamber of Commerce, Inc. and Affiliate has elected not to use the 10-percent de minimis
indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity
of Georgia Chamber of Commerce, Inc. and Affiliate 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
(Uniform Guidance). Because this schedule presents only a selected portion of the operations of
Georgia Chamber of Commerce, Inc. and Affiliate, it is not intended to and does not present the
financial position, changes in net assets, or cash flows of Georgia Chamber of Commerce, Inc. and
Affiliate.