Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal award activity of the Museum under programs of the Federal Government for the year ended June 30, 2025. Information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). The Schedule presents only a selected portion of the operations of the Museum; accordingly, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Museum.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Museum has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures per the Schedule of Expenditures of Federal Awards $ 892,761 Plus: State and non-Federal grants 192,046 Less: National Endowment for the Humanities included in investments (635,000) FEDERAL AND STATE GOVERNMENT GRANTS REVENUE PER THE STATEMENT OF ACTIVITIES AND CHANGE IN NET ASSETS $ 449,807