Notes to SEFA
The accompanying schedule of expenditures of federal awards and state financial assistance (the "Schedule") includes the federal award and state financial assistance activity of Tall Timbers Research, Inc. and Subsidiaries under programs of the federal and state governments 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance); and Chapter 10.560, Rules of the Auditor General. Because the Schedule presents only a selected portion of the operations of Tall Timbers Research, Inc. and Subsidiaries, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Tall Timbers Research, Inc. and Subsidiaries.