Notes to SEFA
BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards - United States Department of Treasury (the "Schedule") includes the federal award activity of Dierberg Educational Foundation, Inc. dba Hermann Farm Museum, Inc. (the "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.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 limited as to reimbursement. Passthrough entity identifying numbers are presented where available and applicable.
INDIRECT COST RATE The Organization has elected to use the 10% de minimis indirect cost rate for Department of Treasury awards.
COST SHARING The Organization has entered into a cost-sharing arrangement as part of the Hermann River Bluff Tourism Destination project funded by the Missouri Department of Economic Development through the United States Department of Treasury. Under this arrangement, the Organization is required to contribute non-federal funds to support the project's objectives. For the year ended December 31, 2025, the Organization contributed over approximately $1,435,000 in non-federal funds, which represented over 50% of the total project costs for the period. These contributions are not included in the Schedule of Expenditures of Federal Awards but are disclosed here to provide a complete understanding of the project's funding. The cost-sharing contributions were used for various construction costs. All cost-sharing contributions were documented and verified in accordance with the program's requirements and the Uniform Guidance (2 CFR 200).