Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of National
Railroad Museum, Inc. and is presented in accordance with generally accepted accounting principles. The
information in this schedule is presented in accordance with the requirements of Title U.S. Code of Federal
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal
Awards (Uniform Guidance).
Because the schedule presents only a select portion of the operations of National Railroad Museum, Inc., it is not
intended to, and does not, present the financial position, changes in net position or cash flows of National Railroad
Museum, Inc.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards includes the federal grant activity of National
Railroad Museum, Inc. and is presented in accordance with generally accepted accounting principles. The
information in this schedule is presented in accordance with the requirements of Title U.S. Code of Federal
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal
Awards (Uniform Guidance).
Because the schedule presents only a select portion of the operations of National Railroad Museum, Inc., it is not
intended to, and does not, present the financial position, changes in net position or cash flows of National Railroad
Museum, Inc.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of National
Railroad Museum, Inc. and is presented in accordance with generally accepted accounting principles. The
information in this schedule is presented in accordance with the requirements of Title U.S. Code of Federal
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal
Awards (Uniform Guidance).
Because the schedule presents only a select portion of the operations of National Railroad Museum, Inc., it is not
intended to, and does not, present the financial position, changes in net position or cash flows of National Railroad
Museum, Inc.
De Minimis Rate Used: N
Rate Explanation: N/A
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: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of National
Railroad Museum, Inc. and is presented in accordance with generally accepted accounting principles. The
information in this schedule is presented in accordance with the requirements of Title U.S. Code of Federal
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal
Awards (Uniform Guidance).
Because the schedule presents only a select portion of the operations of National Railroad Museum, Inc., it is not
intended to, and does not, present the financial position, changes in net position or cash flows of National Railroad
Museum, Inc.
De Minimis Rate Used: N
Rate Explanation: N/A
National Railroad Museum, Inc. did not use the 10% de minimis cost rate.
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of National
Railroad Museum, Inc. and is presented in accordance with generally accepted accounting principles. The
information in this schedule is presented in accordance with the requirements of Title U.S. Code of Federal
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal
Awards (Uniform Guidance).
Because the schedule presents only a select portion of the operations of National Railroad Museum, Inc., it is not
intended to, and does not, present the financial position, changes in net position or cash flows of National Railroad
Museum, Inc.
De Minimis Rate Used: N
Rate Explanation: N/A
National Railroad Museum, Inc. did not have any subrecipient expenditures.