Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Telamon Corporation (the Organization) under programs of the federal government for the year ended September 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 Organization, it is not intended to, and does not, present the financial position, change 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 expenditures are not allowable or are limited to reimbursements. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
The Organization elected to use the 10% de minimis indirect cost rate for federal awards prior to October 1, 2024, and a de minimis rate of 12% (less than the maximum 15% de minimis indirect cost rate) for federal awards after October 1, 2024, as allowed under the Uniform Guidance.
There are no amounts passed through to subrecipients for the year ended September 30, 2025.
The value of the federal awards expended in the form of noncash assistance related to the Head Start program and reported on the Schedule for the year ended September 30, 2025, was $3,126,439.