Notes to SEFA
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of Proteus, Inc., and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirement of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). The amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree, in all material respects, to amount reported within Proteus, Inc's financial statements.
De Minimis Rate Used: N
Rate Explanation: Proteus, Inc., elected not to use the 10% de minimis cost rate as covered in the Uniform Guidance Part 200.414 indirect (F&A) Costs.