Notes to SEFA
Accounting Policies: NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESa. Basis of PresentationThe accompanying schedule of expenditures of federal awards includes the federal grant activity of Mt. Adams Institute. The information in this schedule is presented in accordance with the requirements of Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.b. Basis of AccountingThe expenditures for each federal financial assistance programs are presented in the schedule on the accrual basis of accounting.NOTE 2 ASSISTANCE LISTINGS (AL)AL numbers reported in the accompanying Schedule of Expenditures of Federal Awards are based on beta.sam.gov.
De Minimis Rate Used: N
Rate Explanation: Mt. Adams Institute has not used the 10% de minimis indirect cost rate under the Uniform Guidance.