Notes to SEFA
Accounting Policies: Note A - Basis of Presentation The accompanying schedule of expenditures of Federal awards includes the Federal grant activity of International Research & Exchanges Board, Inc. (IREX), and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with requirements of the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule of expenditures of Federal awards may differ from amounts presented in, or used in the preparation of the basic consolidated financial statements. Note B - Catalog of Federal Domestic Assistance (CFDA) Numbers Some of the Federal awarding agencies have not issued CFDA numbers; therefore, the OMB Clearinghouse numbering conventions were utilized. Contracts having a common grant purpose and from the same agency were aggregated and classified as one program. Note C - Reconciliation of Schedule of Expenditures of Federal Awards to the Statement of Activities Federal grant revenue as shown on the statement of activities $ 101,215,083 Less: Federal expenditures of subsidiary not subject to single audit 643,065 Less: Fixed Price Contracts 25,357 Total 2022 expenditures on the schedule of expenditures of Federal awards $ 100,546,661 Note D - Indirect Cost Rates IREX has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.