Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes all federal grant activity of New Buildings Institute, Inc. 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 the 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 Willamette Partnership, it is not intended to and does not present the financial position, changes in net assets or cash flows of New Buildings Institute, Inc.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. New Buildings Institute, Inc. has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.