The accompanying schedule of expenditures of federal awards (the Schedule, SEFA) includes the federal award activity of the Association of University Technology Managers, Inc. (the Association) 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 the Association, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Association.
Expenditures reported on the Schedule are reported on the basis of accounting following the cost principles contained in the Uniform Guidance, wherein expenditures are charged to grants as payments are made for allowable activities. Below is a reconciliation of amounts reflected on the SEFA to amounts reflected on the statement of functional expenses. Paid in prior Paid in current year for year for Federal Lab Per SEFA current year future period Consortium Salaries and wages $ 1,448,983 $ 0 $ 0 $ 1,448,983 Taxes and benefits 405,715 0 0 405,715 Professional fees 131,656 0 (11,500) 120,156 Professional development 14,864 0 (1,040) 13,824 Technology 504,084 624,902 (140,438) 988,548 Travel 80,893 0 (5,344) 75,549 Venue expenses and catering 30,352 127,980 0 158,332 Attendee activities and materials 28,982 2,495 0 31,477 Site preparation 157,543 52,119 (36,133) 173,529 Keynotes, speakers, and instructors 8,277 0 0 8,277 Meeting logistics 10,537 0 0 10,537 Marketing and promotion 34,196 0 0 34,196 Office expense 29,574 2,691 0 32,265 2,885,656 $ 810,187 $ (194,455) $ 3,501,388 Indirect expenses at 15% 432,848 Program income (76,498) Total expenditures per SEFA $ 3,242,006
The Association has elected to use the de minimis indirect cost rate of 15% allowed under the Uniform Guidance.
The federal financial assistance amounts received are subject to audit and adjustment. If any expenditures are disallowed by the applicable cognizant agency as a result of such an audit, any claim for reimbursement to the cognizant agencies could become a liability of the Association. In the opinion of management, all federal expenditures are in compliance with the terms of the agreements and applicable federal laws and regulations.