Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards presents the activities of the federal financial assistance programs of the International Service Center. Financial awards received directly from federal agencies, as well as financial assistance passed through other governmental agencies or nonprofit organizations, are included in the schedule.
The accompanying Schedule of Expenditures of Federal Awards includes the federal awards activity of International Service Center and the expenditures recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented or used in the preparation of the basic financial statements. This schedule is reported on the modified cash basis of accounting which is a basis other than generally accepted accounting principles. Under the modified cash basis, revenues are recorded when received rather than when earned and expenditures are recorded when paid rather than when incurred.
International Service Center has not elected to use the 15% de minimis indirect cost rate for its federal programs.