Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The Sphere Institute (the Institute) under programs of the federal government for the year ended December 31, 2024 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 (CFR), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of operations of the Institute, it is not intended to and does not present the financial position, results of operations or cash flows of Institute.