Audit 44517

Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) summarizes the expenditures of Southern Research Institute (the Organization) under direct contracts and subcontracts of the federal government for the year ended December 31, 2022. 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, results of operations, changes in net position, and cash flows of the Organization. For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between the Organization, the agencies and departments of the federal government, and all subawards to the Organization by nonfederal organizations pursuant to federal grants, contracts, and similar agreements. The information in the Schedule is presented in accordance with the provisions of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). The Organization has obtained Catalog of Federal Domestic Assistance (CFDA) numbers to ensure that all programs have been appropriately identified in the Schedule. CFDA numbers for applicable programs have been appropriately listed by those programs. Certain contracts and grants are not assigned CFDA numbers and, therefore, CFDA numbers are not listed by these programs. For purposes of the Schedule, expenditures for federal award programs are recognized on the accrual basis of accounting. De Minimis Rate Used: N Rate Explanation: The Organization did not elect to charge a de minimis rate of 10% for all federal awards.