Notes to SEFA
The schedule of expenditures of federal awards is presented using the accrual basis of accounting. The schedule includes cost reimbursable grants from the federal government which, for the year ended December 31, 2024, were primarily from the Department of State, including the Bureau of Democracy, Human Rights, and Labor and the United States Agency for International Development. The preparation of this schedule is 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). The principal estimates and assumptions used in the preparation of the accompanying schedule relate to cost allowability and allocability (see Note C). Actual results could differ from those estimates. Because the schedule presents only a selected portion of the operations of Free Russia Foundation, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of Free Russia Foundation.
Expenditures reported on the schedule 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 allowability of certain costs under federal grants is subject to audit by the U.S. government. Certain costs charged to federal grants are subject to revisions based on government audits of those costs. Management believes that contract costs are consistent with applicable government cost principles, and that costs subsequently disallowed, if any upon audit by the government, would not be material.
Free Russia Foundation has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.