Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Global Center on Cooperative Security (the “Global Center”) for the year ended December 31, 2024. The information in this Schedule is presented in accordance with the requirements of the Office of Management and Budget (“OMB”) Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Because the Schedule presents only a selected portion of operations of the Global Center, it is not intended to and does not present the financial position, change in net assets, or cash flows of the Global Center. Federal awards received directly from federal agencies (if any), as well as the federal portion of grants passed through non-federal agencies, are included in the Schedule.
Expenditures reported on the Schedule are presented 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.
The Global Center has elected not to use the ten-percent de minimis indirect cost rate as allowed under the Uniform Guidance.