Notes to SEFA
Title: General Information
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditres are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimburesment.
De Minimis Rate Used: N
Rate Explanation: The Foundation 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 (the Schedule) includes the activities of the federal award programs of the Fredric Rieders Family Foundation (the Foundation). All federal awards received directly from federal agencies, as well as awards passed through other goveranmental agencies or nonprofit organizations, are included on the Schedule. 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).
Title: Relationship to Basic Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditres are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimburesment.
De Minimis Rate Used: N
Rate Explanation: The Foundation has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
For certain programs, the expenses are reported in the financial statements may differ from the expenditures reported in the Schedule due to program expenses exceeding grant or contract budget limitations, which are not included as federal awards.