Notes to SEFA
The accompanying consolidated schedule of expenditures of federal awards (the schedule) includes the federal award activity of the Association of Fish and Wildlife Agencies and Affiliate 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 Association of Fish and Wildlife Agencies and Affiliate, it is not intended to and does not present the consolidated financial position, changes in net assets, or cash flows of Association of Fish and Wildlife Agencies and Affiliate.
Expenditures reported on the schedule are reported on the accrual basis of accounting. 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. There are no payments to subrecipients included in the Consolidated Schedule of Expenditures of Federal Awards for the year ended December 31, 2025.
Association of Fish and Wildlife Agencies and Affiliate has not elected to use the fifteen percent de-minimis indirect cost rate allowed under the Uniform Guidance.
The grant revenue amounts received and expenses (eligible for reimbursement) are subject to audit adjustment. If any expenses are disallowed by the grantor as a result of such audit, a claim for reimbursement to the grantor would become a liability of Association of Fish and Wildlife Agencies and Affiliate. In the opinion of management, all grant expenses (eligible for reimbursement) are in compliance with the terms of the grant agreement and applicable federal and state laws and regulations.