Notes to SEFA
Accounting Policies: Basis of Presentation:The schedule of expenditures of federal awards (the Schedule) includes the Foundations federal award activities under USAID grants for the year ended December 31, 2022. 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, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the Foundations operations, it is not intended to and does not present the Foundations results of operations, and cash flows in accordance with accounting principles generally accepted in the United States of America (US GAAP).Cost Principles:Expenditures reported on the Schedule are reported on the accrual method of accounting in accordance with US GAAP. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.