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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. NW3C does not provide any awards to subrecipients. Therefore, the schedule of expenditures of federal awards has no separate column for amounts awarded to subrecipients.
De Minimis Rate Used: N
Rate Explanation: NW3C has elected not use the 10% de minimis cost rate as allowed by the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of NW3C, Inc. (d/b/a National White Collar Crime Center) (NW3C) for the year ended June 30, 2022. The information in the 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 NW3C, it is not intended to and does not present the financial position, changes in net assets, or cash flows of NW3C.
Title: Indirect Cost Rates
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. NW3C does not provide any awards to subrecipients. Therefore, the schedule of expenditures of federal awards has no separate column for amounts awarded to subrecipients.
De Minimis Rate Used: N
Rate Explanation: NW3C has elected not use the 10% de minimis cost rate as allowed by the Uniform Guidance.
As provided by the U.S. Department of Justice (DOJ), NW3C allocated indirect costs using a rate equal to its approved provisional rate of 41.60% during the year ended June 30, 2022. During March 2022, the DOJ approved 41.60% as the final indirect cost rate related to the year ended June 30, 2021. NW3C expects that the DOJ will approve NW3Cs indirect cost rate and provide a final rate for 2022 during the year ending June 30, 2023. Any variance between the provisional indirect cost rate and the final rate approved by DOJ on an annual basis may be adjusted by the DOJ in subsequent periods.