Notes to SEFA
Title: Reconciliation of SEFA to Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) presents the expenditures incurred by The Brookings Institution (Brookings) in connection with its federally sponsored programs for the year ended June 30, 2022. 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).For purposes of the Schedule, federal awards include all grants, contracts and other financial assistance entered into directly between Brookings and agencies and departments of the federal government, as well as pass-through subawards from nonfederal organizations made under federally sponsored agreements.
De Minimis Rate Used: N
Rate Explanation: Brookings has a negotiated indirect cost rate agreement with the U.S. Department of Health and Human Services. As such, Brookings does not use or is eligible to use the 10% de minimis option of the Uniform Guidance.
Federal grants and contracts are shown as unrestricted grants and contracts in the accompanying statement of activities. Due to formatting restrictions in the FAC database, the text input in this item may not convey the full meaning of the Notes to the SEFA. Users should refer to the reporting package to view the text as intended.