Notes to SEFA
The accompanying schedule of expenditures of federal awards (“SEFA”) summarizes the expenditures of The Atlanta Botanical Garden, Inc. (the “Garden”) under programs of the federal government for the year ended December 31, 2024 and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the provisions 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”). Therefore, some amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the SEFA presents only a selected portion of the activities of the Garden, it is not intended to, and does not, present either the financial position, changes in net position, or cash flows of the Garden.
Expenditures for direct costs are recognized as incurred using the accrual method of accounting and the cost accounting principles contained in the Uniform Guidance. Under these cost principles, certain types of expenditures are not allowable or are limited as to reimbursement.
The Garden has elected to use the 10-percent de minimis indirect cost rate under Title 2 U.S. CFR Part 200, Subpart E, Cost Principles.
Federal assistance listing numbers (“ALN”) that are available for each federal award program are indicated on the schedule of expenditures of federal awards.
Certain awards are subject to financial and compliance audits by the grantor agencies. The amount, if any, of expenditures that may be disallowed by the grantor agencies cannot be determined at this time, although the Garden expects such amounts, if any, to be immaterial.