Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of California Marine Sanctuary Foundation (the Foundation) and is presented on the accrual basis of accounting. The information in the 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). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is described in the notes to the financial statements of the Foundation as of and for the year ended December 31, 2025. In the Schedule, where expenditures exceed the federal award amount, the difference is funded with state, local, or other non-federal funds. Pass-through entity identifying numbers are presented where available. The Foundation elected to use the 15% de minimis indirect cost rate allowed under the Uniform Guidance. The Foundation did not receive federal insurance, loans, or noncash assistance for the year ended December 31, 2025 that are required to be reflected on the Schedule.