Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Central Indiana Corporate Partnership, Inc., including its affiliated foundation (CICP). The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements. Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance or federal award guidance, when such cost principles are not applicable to the specific federal award. Under the cost principles contained in the Uniform Guidance and federal award guidance, certain types of expenditures are not allowable or are limited as to reimbursement.
CICP has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.