Notes to SEFA
The accompanying schedule of expenditures of federal awards summarizes the expenditures of the Organization under programs of the federal government for the year ended December 31, 2025, and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the provision 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Expenditures for direct costs are recognized as incurred using the accrual method of accounting and the cost accounting principles obtained in the Uniform Guidance. Under these cost principles, certain types of expenditures are not allowed or are limited as to reimbursement.
The Organization has elected not to use the minimum indirect cost rate under Uniform Guidance.