Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Bi-State Development 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 2 CFR 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 Bi-State Development, it is not intended to and does not present the financial position, changes in net position, or cash flows of Bi-State Development.
Bi-State Development has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. Bi-State Development’s Cost Allocation Plan results in an indirect rate and direct fringe rate of 56.18% and 78.05%, respectively, to the extent allowable by federal programs.