Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accountin in conformity with accouninting principles generally accepted in the United States of America and is in accordance with the Uniform Guidance. Expenditures reported on the Schedule of Expenditures of Federal Awards include cash disbursements, whether capitalized or expensed, during the fiscal year, as well as grant related amounts recorded as payaable at year end. Revenues reported on the Schedule of Expenditures of Federal Awards in clude cash receipts,, whether recognized or deferred. as well as grant receivables recorded at year end.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America and is 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). Because the Schedule presents only a selected portion of the operations of HCN it is not intended to and does not present the financial position, changes in net assets, or cash flows of Healthcare Network.