Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of Compass 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), and is not intended to, and does not, present the financial position, change in net assets, or cash flows of Compass.
Expenditures reported in the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular 122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Compass applies indirect cost rates in accordance with the terms specified in each grant agreement. These rates are based on negotiated or stated rates approved by the respective funding agencies, where applicable.