Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Russell Sage College and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Administrative costs are included in the reported expenditures to the extent such costs are included in the federal financial reports used as the source for the data presented.
The College did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.