Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Public Broadcasting Service and Subsidiaries ( the Company) under programs of the federal government for the year ended June 30, 2025. 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 the Company, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Company. All of the Company's federal awards were in the form of cash assistance for the year ended June 30, 2025. The Company had no federally funded insurance program or loan guarantee for the year ended June 30, 2025.
Expenditures reported in the Schedule 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 to as reimbursement.
The Company has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
Expenditures of sub-awards made to organizations are recorded as deliverables are achieved, upon transfer of title of equipment, or as allowable expenses are incurred. Some sub-awards allow advances to be made for expenditures expected to be incurred within the next month.