Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of The Krell Institute, 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 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 Krell Institute, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of The Krell Institute, Inc. Expenditures reported on 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 as to reimbursement. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
See the Notes to the SEFA for summary of federal award expenditures for the year ended September 30, 2025 table.
The Krell Institute, Inc. has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance.