Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") presents the federal expenditures of the Brooklyn Museum (the "Museum") for the year ended June 30, 2022, and is prepared on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations ("CFR") Part 200, Uniform Guidance Requirements, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance"). Accordingly, some amounts presented in the Schedule may differ from amounts presented in, or used in, the preparation of the Museum's fiscal 2022 financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.