Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Distilled Spirits Council of the United States, 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 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 Distilled Spirits Council of the United States, Inc., it is not intended to and does not present the financial position, changes in net assets, functional expenses, or cash flows of Distilled Spirits Council of the United States, Inc.
Expenditures reported on the Schedule are reported on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. 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.
Distilled Spirits Council of the United States, Inc. has elected not to use the 15 percent de minimis indirect cost rate as allowed under the Uniform Guidance.