Notes to SEFA
Title: Basis of Presentation
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 are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of National September 11 Memorial and Museum at the World Trade Center (the Organization) under programs of the federal government for the year ended December 31, 2022. 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.
Title: Nonmonetary Assistance
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 are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Nonmonetary assistance is reported in the Schedule based on the amount disbursed or received. The Organization received no nonmonetary assistance for the year ended December 31, 2022.
Title: Indirect Cost Rate
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 are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Other Matter
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 are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
In accordance with the 2022 OMB Compliance Supplement, eligible expenditures under Federal Assistance Listing Number 97.036 incurred and recognized in the Organizations 2020 financial statements and approved by FEMA in 2022, should be included on the Organizations 2022 Schedule. Accordingly, total U.S. Department of Homeland Security federal expenditures for the year ended December 31, 2022 include $119,947 of eligible expenditures incurred during the year ended December 31, 2020.