Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Louisiana Clean Fuels, Inc. under programs of the federal government for the year ended September 30, 2025. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of the 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 Louisiana Clean Fuels, Inc., it is not intended and does not present the financial position, changes in net assets, or cash flows of Louisiana Clean Fuels, Inc.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB’s Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Louisiana Clean Fuels, Inc., has elected to use the 15-percent de minimis cost rate allowed under the Uniform Guidance for certain federal awards where no negotiated indirect cost rate agreement exists and the use of the de minimis rate is permitted by the awarding agency.