Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal award activity of SEI READI, Inc. under programs of the federal government for the year ended December 31, 2024. The information in this schedule is presented in accordance with the requirements of 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 the operations of SEI READI, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of SEI READI, Inc.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
As a pass-through entity, SEI READI, Inc. provided federal awards to subrecipients to carry out certain program activities. The Organization monitors the activities of the subrecipients as necessary to ensure that federal awards are used for authorized purposes and in compliance with laws, regulations, and the provisions of contracts or grant agreements.
SEI READI, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.