Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of International Foundation of Electoral Systems (IFES) 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the Schedule presents only a selected portion of the operations of IFES, it is not intended to and does not present the financial position, changes in net assets, or cash flows of IFES.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not allowable, or are limited as to reimbursement. 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.
As of the date of this report, IFES has finalized rates through fiscal year 2022, and has been given provisional rates for fiscal year 2023, and onward, until amended. Based on the final approved rates through 2022, IFES has updated all grants accordingly. As such, IFES has elected to not use the de minimis indirect cost rate as allowed under the Uniform Guidance.