Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Ordway Center for the Performing Arts (the Ordway) 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 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 Ordway’s, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Ordway.
Expenditures reported in 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 Ordway has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Ordway has no subrecipients for any grants.