Notes to SEFA
Title: US Department of Agriculture Loan Agreement
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Baldwin Family Health Center and is presented using the cash 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 Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The expenditures in the Schedule of Expenditures of Federal Awards are in agreement with the amounts reported in the financial statements and reports submitted to the Department of Health and Human Services. Although some grant awards are for different periods than the Center's fiscal year, all expenditures in the schedule are for the year ended March 31, 2023.
De Minimis Rate Used: N
Rate Explanation: Baldwin Family Health Care has not elected to use the 10% de minimus indirect costs rate.
The amount expended under AL 10.766, Community Facilities Loans and Grants, represents the beginning loan balances of two U.S. Department of Agriculture loan agreements. The loans had outstanding prinicipal balances totaling $3,974,379 as of March 31, 2023.
Title: Reconciliation of Federal Awards
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Baldwin Family Health Center and is presented using the cash 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 Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The expenditures in the Schedule of Expenditures of Federal Awards are in agreement with the amounts reported in the financial statements and reports submitted to the Department of Health and Human Services. Although some grant awards are for different periods than the Center's fiscal year, all expenditures in the schedule are for the year ended March 31, 2023.
De Minimis Rate Used: N
Rate Explanation: Baldwin Family Health Care has not elected to use the 10% de minimus indirect costs rate.
Federal awards revenue for the year ended March 31, 2023 is reported as follows: Revnue in prior year statement of activities, reported on the current year of schedule of expenditures of federal awards $(658,879). Revenue on the current year statement of activities to be reported on future year schedule of expenditures of federal awards $(59,327). Revenue on prior year statement of activities reported on current year of schedule of expendiutres of federal awards $19,961. Loan agreement with US Department of Agriculture $(4,141,536).