Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the Federal award activity of FCE under programs of the Federal Government for the year ended December 31, 2024. Information in the 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). The SEFA presents only a selected portion of the operations of FCE; accordingly, it is not intended to and does not present the financial position, changes in net assets or cash flows of FCE.
Expenditures included on the SEFA are reported 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. FCE has elected to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.