Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Short Line Safety Institute under programs of the federal government for the year ended December 31, 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 Short Line Safety Institute, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Short Line Safety Institute.
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 types of expenditures are not allowable or are limited as to reimbursement. Matching costs (the Institute’s share of certain program costs) are not included in the reported expenditures. Pass-through entities’ identifying numbers are presented where applicable.
Indirect costs may be included in the reported expenditures, to the extent that they are included in the federal financial reports used as the source of the data presented. The Institute has elected not to use the 15 percent de minimis indirect cost rate allowed under the Uniform Guidance.