Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of MDRC for the year ended December 31, 2025. The preparation of this schedule is in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”).
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Federal Acquisition Regulations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The principal estimates and assumptions used in the preparation of the Schedule relate to cost allowability and allocability. Actual results could differ from those estimates. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to expenditures reported in prior years.
MDRC did not elect to utilize the federal minimum indirect cost rate allowed under the Uniform Guidance.