Notes to SEFA
Title: U.S. Department of Agriculture Loan Agreement
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Thunder Bay Community Health Service, Inc. and is presented using 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 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 February 28, 2023.
De Minimis Rate Used: N
Rate Explanation: Alcona Citizens for Health, Inc. has not elected to use the 10% de minimis indirect costs rate.
The amount expended under AL 10.766, Community Facilities Loans and Grants, represents the beginning loan balances of four U.S. Department of Agriculture loan agreements. The loans had outstanding principal balances totaling $3,946,022 as of April 30, 2023.
Title: Reconciliation of Federal Awards
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Thunder Bay Community Health Service, Inc. and is presented using 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 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 February 28, 2023.
De Minimis Rate Used: N
Rate Explanation: Alcona Citizens for Health, Inc. has not elected to use the 10% de minimis indirect costs rate.
Federal awards revenue for the year ended April 30, 2023 is reported as follows:
Expenditures per schedule of expenditures of federal awards $13,114,137
Provider Relief Funds (AL# 93.498) - Revenue in prior year on the statement of activities, reported on current year schedule of expenditures of federal awards (659,473)
Community Facilities Loans and Grants (AL# 10.766) - Represents the beginning loan balance of loan agreement with U.S. Department of Agriculture. (3,959,322)
Federal grants per statement of activities $8,495,342