Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of Southern United States Trade Association under programs of the federal government for the fiscal year ended 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 for Federal Awards (Uniform Guidance). Because the schedule presents only aselected portion of the operations of Southern United States Trade Association it is not intended to and does not present the financial position, changes in net position, or cash flows of Southern United States Trade Association.
(a) Expense Reconciliation 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 allowed or are limited as reimbursement. (b) Payment to Subrecipients There were no payments to subrecipients for the fiscal year ended 2025. (c) Indirect Cost Rate Southern United States Trade Association has elected not to use the 15% de minimis indirect cost rate allowed under the Uniform Guidance.