Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Oklahoma City Innovation District, Inc. (“Organization”) 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. All federal awards passed through other government agencies are included on the Schedule.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Organization has elected to use the de minimis indirect cost rate as allowed under the Uniform Guidance for certain federal awards. For the Economic Adjustment Assistance grant, Assistance Listing Number 11.307, the Organization applied a 10 percent de minimis cost rate to total direct costs, rather than the maximum 15 percent de minimis rate permitted under Uniform Guidance. For the Coronavirus State and Local Fiscal Recovery Funds grant, Assistance Listing Number 21.027, the Organization applied an indirect cost rate of 8 percent to specific direct costs in accordance with the terms and conditions of that award.