The SEFA was prepared on the accrual basis of accounting in accordance with Uniform Guidance, 2 CFR Part 200. Expenditures reported on the SEFA are recognized in accordance with the cost principles contained in Uniform Guidance. The SEFA presents only the federal award activity of Silence Aloud, Inc.
Silence Aloud, Inc. elected to use the 10% de minimis indirect cost rate permitted under Uniform Guidance.