Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Cosmosphere, Inc. 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 Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of Cosmosphere, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Cosmosphere, Inc.
Expenditures reported on the Schedule are reported on the basis of accounting as described in Note A. Such expenditures are recognized following the cost principles contained in the U.S. Office of Management and Budget Uniform Guidance (2 CFR Part 200, Subpart E), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Cosmosphere, Inc. did not elect to use the 10% de minimis cost rate.