Notes to SEFA
Title: Subrecipients
Accounting Policies: Note 1: Basis of PresentationThe accompanying schedule of expenditures of federal awards (the "schedule") includes the federal award activityof Brave New Software Project, Inc. (the Organization) under programs of the federal government for theyear ended December 31, 2022. The information in this schedule is presented in accordance with the requirements ofTitle 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost principles, andAudit requirements for Federal Awards (the "Uniform Guidance"). Because the schedule presents only a selected portion of theoperations of the Organization, it is not intended to, and it does not, present the financial position, changes in net assets orcash flows of the Organization.Note 2: Summary of Significant Accounting Policies(1) Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowableor are limited as to reimbursement.(2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The Organization provided no federal awards to subrecpients.