Audit 52884

Title: GENERAL Accounting Policies: This Schedule has been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and 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).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. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal award programs of Sustainable Manufacturing Innovation Alliance Corp. (the Organization). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended, and does not, present the financial position, changes in net assets, and activities of the Organization. For the purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between the Organization and agencies and departments of the federal government as well as federal awards passed through other agencies. The Organization receives funding primarily through a cooperative agreement with the U.S. Department of Energy related to renewable energy research and development.