Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal activity of Launch Alaska under programs of the federal government for the year ended June 30, 2025. The information in the 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 operations of the Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization.
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. The Organization has elected to use the 10 percent de minimus indirect cost rate, as allowed under the Uniform Guidance.
The Organization has elected to use the 10 percent de minimus indirect cost rate, as allowed under the Uniform Guidance for all federal awards except the Office of Naval Research (ONR) award having ALN 12.300. Effective October 1, 2024, the ONR award was charged a 15 percent de minimis indirect cost rate.
The following Federal Award was passed through to subrecipients issued to Launch Alaska from U.S. Department of Energy having ALN# 81.087 amounting to $66,571.
The accompanying Schedule of Expenditures of Federal Awards does not include the value of in-kind cost share contributions amounting to $100,301 received under the federal program named as Alaska Energyshed Tech Stack having ALN 81.087 during the year ended June 30, 2025.